Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Answer all 5 questions (55-59)with solutions.Continuation of number 56.How much is the conjugal properties under Conjugal Partnerships of Gains? a. 12,510,000 b. 18,510,000 c. 22,310,000

Answer all 5 questions (55-59)with solutions.Continuation of number 56.How much is the conjugal properties under Conjugal Partnerships of Gains? a. 12,510,000 b. 18,510,000 c. 22,310,000 d. 23,610,00057. How much is the community properties under Absolute Community Property? a. 12,510,000 b. 18,510,000 c. 22,310,000 d. 23,610,00058. How much is the gross estate under Absolute Community of Property? a. 12,510,000 b. 18,510,000 c. 22,310,00 d. 23,610,00059. How much is the gross estate under Conjugal Partnerships of gains? a. 12,510,000 b. 18,510,000 c. 22,310,000 d. 23,610,000

image text in transcribed
55. Diane, a resident alien, died leaving the following assets in the Philippines: Shares of stocks 3,000,000; Franchise exercised in the Philippines 5,000,000; Vacation house in the Philippines 2,000,000. If the country of Diane exempts Filipino citizens from estate tax, how much of her assets would be exempt from estate tax as a result of reciprocity agreement? * O a.0 b. 5,000,000 c. 8,000,000 O d. 3,000,000 56. The next four (3) questions are based on the data provided below. Mr. J. Chavez died leaving the following properties: Rest house in Cebu, acquired before marriage P6,000,000: Income from rest house in Cebu 600,000: Condominium in Davao, brought to marriage by wife 3.600,000; Income from Condominium in Davao 360,000; Townhouse in Quezon City. acquired during marriage 10.500,000; Income from townhouse in Quezon City 1,050,000: Car, inherited by wife during marriage (the decedent provided in his Will that it shall form part of the common properties of the spouses 1,300,000; Jewelry, acquired during marriage for the exclusive use of the wife 200,000. How

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business and Administrative Communication

Authors: Kitty o. locker, Donna s. kienzler

10th edition

978-0073403182

Students also viewed these Accounting questions