Recording activities for an estate and a trust. At the time of Robert Granger’s death, his estate consisted of the following assets and liabilities measured at fair market value: The following...

Recording activities for an estate and a trust. At the time of Robert Granger’s death, his estate consisted of the following assets and liabilities measured at fair market value:

The following information is relevant to the administration of Robert’s estate:

a. Robert is a single person and has two minor children from a previous marriage. After satisfying the other provisions of his will, the balance of Robert’s estate is to be transferred to a trust for the benefit of his minor children. Annual trust income in the amount of $15,000 is to be transferred to the children. Upon attaining the age of 21, each child would receive corpus of $25,000. The remaining corpus of the trust and any undistributed income is to be paid out to the children when they both have attained the age of 25.