Memorial Service in Honor of William Freeman Vilas At the University of Wiscon
Memorial Service in Honor of William Freeman Vilas At the University of Wiscon
University of Wisconsin
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Mary Esther, and any improvements and alterations they may think desirable, charging all such expenditures to the Income Account. Separate and independent books of account of the estate shall be opened and carefully kept by my trustees, in which shall be first entered under proper headings of account a complete inventory of all properties of the estate; and thereafter all items and transac- tions shall be entered according to the double-entry system. They shall fix some day in the year as the c...learance day and beginning of the fiscal year, at which time an inventory shall be annually taken, all accounts closed and balances brought to new account and an ex- act statement shown by proper transfer to income account of the net annual income of the estate realized in the year then past; but in making such inventory, so far as the same shall be carried to new accounts, no property shall be inventoried with any increment of value by estimation but all losses shall be charged off, if any; so that the net income shall be stated according to the actual money gains realized during the preceding year.
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