Mr. F married, under absolute community, died on May 14, 2019, leaving the following: Family Home (house) P 10,350,000 Bank Deposit Coconut Plantation Other properties acquired thru labor 650,000 2,000,000 300,000 (inclusive of jewelry, P200,000) is 4 ½ years from the date of death) Family Lot (inherited 1 year before his marriage w/c 2,000,000 Family Vacation House, Baguio City 800,000 Deductions: Funeral Expense Amt. pledged as contribution for construction of parish church Accounts Receivable (documented) from debtor who is insolvent Unpaid Mortgage on coconut plantation Note: Family lot - FMV 4 1/2 years ago Compute: Net Taxable Estate and estate tax due 80,000 20,000 40,000 200,000 1,000,000
Mr. F married, under absolute community, died on May 14, 2019, leaving the following: Family Home (house) P 10,350,000 Bank Deposit Coconut Plantation Other properties acquired thru labor 650,000 2,000,000 300,000 (inclusive of jewelry, P200,000) is 4 ½ years from the date of death) Family Lot (inherited 1 year before his marriage w/c 2,000,000 Family Vacation House, Baguio City 800,000 Deductions: Funeral Expense Amt. pledged as contribution for construction of parish church Accounts Receivable (documented) from debtor who is insolvent Unpaid Mortgage on coconut plantation Note: Family lot - FMV 4 1/2 years ago Compute: Net Taxable Estate and estate tax due 80,000 20,000 40,000 200,000 1,000,000
Chapter5: Managing Checking And Savings Accounts
Section: Chapter Questions
Problem 6FPC
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