Mrs. Manalo, a resident citizen, deed in his last will and testament, he indicated the following: House and lot, to be adopted son and only heir P5,000,000 Land to a public school 1,000,000 Cash to ABS-CBN Foundation 500,000 The agency to ABS-CBN Foundation was intended for the program expenses of Bantay Bata 163, a non-profit social welfare program of ABS-CBN Foundation. Compute for the gross estate.

Mrs. Manalo, a resident citizen, deed in his last will and testament, he indicated the following: House and lot, to be adopted son and only heir P5,000,000 Land to a public school 1,000,000 Cash to ABS-CBN Foundation 500,000 The agency to ABS-CBN Foundation was intended for the program expenses of Bantay Bata 163, a non-profit social welfare program of ABS-CBN Foundation. Compute for the gross estate.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter13: Property Transact Ions: Determination Of Gain Or Loss, Basis Considerations, And Nontaxable Exchanges

Section: Chapter Questions

Problem 57P

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