Question
Jaime a citizen and resident of the Philippines, single, head of family, died on June 15, 2010 leaving the following properties and charges thereon: Personal
Jaime a citizen and resident of the Philippines, single, head of family, died on June 15, 2010 leaving the following properties and charges thereon:
| Personal Properties | P 1,000,000 |
| Family Home | P 3,000,000 |
| Real properties excluding family home | P 7,500,000 |
| Actual Funeral expenses | P 200,000 |
| Unpaid real estate tax | P 450,000 |
| Medical Expenses | P 600,000 |
Based on the given above, compute for the gross estate, net taxable estate, and estate tax due.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
