us organization and restricted to be used for program expenses of the latter. *Cash in Bank-1,000,000.00 *Receivables from his ex-girlfriend-500,000.00 *Car from a rent a Car services-200,000
us organization and restricted to be used for program expenses of the latter. *Cash in Bank-1,000,000.00 *Receivables from his ex-girlfriend-500,000.00 *Car from a rent a Car services-200,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A resident decedent died leaving the following property. In his last will, he stated to donate the
industrial land to a religious organization and restricted to be used for program expenses of the
latter.
*Cash in Bank-1,000,000.00
*Receivables from his ex-girlfriend-500,000.00
*Car from a rent a Car services-200,000.00
*House and Lot in Ayala-2,000,000.00
*Motor registered the name in his son- 180,000.00
*Industrial Land - 800,000.00
1. Determine the Gross Estate of the decedent: ___________
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