Mrs. Moises, a resident decedent, died leaving the following properties: Car purchased using GSIS retirement benefits P500,000 Interest in a joint venture business 3,000,000 House and lot, separate property of his wife 2,000,000 Proceeds of insurance, revocably designated to wife 1,500,000 Total P7,000,000 Compute the amount to be included in gross estate.
Mrs. Moises, a resident decedent, died leaving the following properties: Car purchased using GSIS retirement benefits P500,000 Interest in a joint venture business 3,000,000 House and lot, separate property of his wife 2,000,000 Proceeds of insurance, revocably designated to wife 1,500,000 Total P7,000,000 Compute the amount to be included in gross estate.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mrs. Moises, a resident decedent, died leaving the following properties:
| Car purchased using GSIS retirement benefits | P500,000 |
| Interest in a joint venture business | 3,000,000 |
| House and lot, separate property of his wife | 2,000,000 |
| Proceeds of insurance, revocably designated to wife | 1,500,000 |
| Total | P7,000,000 |
Compute the amount to be included in gross estate.
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