Richard Stands Passed Away at on September 2,2011 Required:
Prepare an Inventory of Estate Assets as of September

Richard Stands passed away at on September 2,2011.The probate court ruled that most assets could be excluded from estate inventory.Ty Republic has been appointed to serve as executor for the estate.The estate assets consisted of the following at that date:
$\begin{array}{|l|r|r|}\hline\text { Asset } & \text { Cost } & \text { Fair Value } \\\hline \text { Cash } & 160,750 & 160,750 \\\hline \text { Certificates of Deposit } & 100,000 & 100,000 \\\hline \text { Investments/Mutual Funds } & 487,160 & 3,506,490 \\\hline \text { Residence } & 185,000 & 368,000 \\\hline \text { Lake cottage } & 12,000 & 123,000 \\\hline \text { Cookie Jar collection } & 8,785 & 74,000 \\\hline 1966 \text { Alpha Romeo } & 42,000 & 79,750 \\\hline\end{array}$
Required:
Prepare an inventory of estate assets as of September 2,2011.

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