Investment of accumulated incomethe income accumulations, Ask an Expert

Accounting

Investment of accumulated income

The income accumulations must be invested from time to time and the investments earmarked as being on Accumulations Account.

The income arising on accumulation investments should be credited to Income Accumulations Account and divided between the infants in proportion to the balances on Accumulations Account at the commencement of the year.

It will be appreciated from the above that the Income Accumulations Account is merely an income account ruled with columns to distinguish the income belonging to each beneficiary. The total balances on this account will be represented by Accumulation Investments and cash at bank.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9516583

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