California
Probate Code – PROB § 1061
(a) All accounts shall state the period covered by the account and contain a summary showing all of the following, to the extent applicable:
(1) The property on hand at the beginning of the period covered by the account, which shall be the value of the property initially received by the fiduciary if this is the first account, and shall be the property on hand at the end of the prior account if this is a subsequent account.
(2) The value of any assets received during the period of the accounting which are not assets on hand as of the commencement of the administration of an estate.
(3) The amount of any receipts of income or principal, excluding items listed under paragraphs (1) and (2) or receipts from a trade or business.
(4) Net income from a trade or business.
(5) Gains on sales.
(6) The amount of disbursements, excluding disbursements for a trade or business or distributions.
(7) Loss on sales.
(8) Net loss from trade or business.
(9) Distributions to beneficiaries, the ward or conservatee.
(10) Property on hand at the end of the accounting period, stated at its carry value.
(b) The summary shall be in a format substantially the same as the following, except that inapplicable categories need not be shown:
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SUMMARY OF ACCOUNT
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| CHARGES: | ||
| Property on hand at beginning of account (or Inventories) | $ | __________________________ |
| Additional property received (or Supplemental Inventories) | __________________________ | |
| Receipts (Schedule ________) | __________________________ | |
| Gains on Sale or Other Disposition | ||
| (Schedule ________) | __________________________ | |
| Net income from trade or business | ||
| (Schedule ________) | __________________________ | |
| Total Charges: | $ | __________________________ |
| CREDITS: | ||
| Disbursements (Schedule ________) | $ | __________________________ |
| Losses on Sale or Other Disposition | ||
| (Schedule ________) | __________________________ | |
| Net loss from trade or business | ||
| (Schedule ________) | __________________________ | |
| Distributions (Schedule ________) | __________________________ | |
| Property on hand at close of account | ||
| (Schedule ________) | __________________________ | |
| Total Credits: | $ | __________________________ |
(c) Total charges shall equal total credits.
(d) For purposes of this section, the terms “net income” and “net loss” shall be utilized in accordance with general accounting principles. Nothing in this section is intended to require that the preparation of the summary must include “net income” and “net loss” as reflected in the tax returns governing the period of the account.