Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NAME: SECTION: SCORE: PROFESSOR: Problem Gross Estate For each type of decedent, compute for the gross estate of Mr. Hu if he left property enumerated

image text in transcribed

NAME: SECTION: SCORE: PROFESSOR: Problem Gross Estate For each type of decedent, compute for the gross estate of Mr. Hu if he left property enumerated below. a. Resident Citizen b. . Non-Resident Citizen C. Resident Alien d. Non-Resident Alien, With Reciprocity e. Non-Resident Alien, Without Reciprocity 1. Obligations issued by foreign corporation 2. Lot in Angeles City, Pampanga 3. Land in Marinduque 4. Notes receivable, debtor in Europe 5. Interest in a foreign industry 6. Animal houses attached to land in Tarlac, Tarlac 7. Furniture in Las Pinas City 8. Shares of stock in a domestic corporation 9. Rice field in San Jose, Nueva Ecija 10. Truck in San Jose, Nueva Ecija 11. Paintings in house in the Philippines 12. Bonds issued by a US-based corporation 13. Franchise used in Ormoc City 14. Bank deposit at Citibank, Hong Kong 15. Business right in a foreign corporation 16. Trademark in the Philippines 17. Foreign shares of stock 18. Business right in a domestic partnership 19. Growing fruits in Marinduque land 20. Investment in a domestic partnership 21. House and lot in Las Pinas City 500,000 250,000 150,000 350,000 1,500,000 200,000 350,000 550,000 375,000 900,000 1,200,000 2,750,000 3,250,000 2,200,000 3,250,000 2,250,000 1,750,000 3,750,000 600,000 400,000 4,500,000 NAME: SECTION: SCORE: PROFESSOR: Problem Gross Estate For each type of decedent, compute for the gross estate of Mr. Hu if he left property enumerated below. a. Resident Citizen b. . Non-Resident Citizen C. Resident Alien d. Non-Resident Alien, With Reciprocity e. Non-Resident Alien, Without Reciprocity 1. Obligations issued by foreign corporation 2. Lot in Angeles City, Pampanga 3. Land in Marinduque 4. Notes receivable, debtor in Europe 5. Interest in a foreign industry 6. Animal houses attached to land in Tarlac, Tarlac 7. Furniture in Las Pinas City 8. Shares of stock in a domestic corporation 9. Rice field in San Jose, Nueva Ecija 10. Truck in San Jose, Nueva Ecija 11. Paintings in house in the Philippines 12. Bonds issued by a US-based corporation 13. Franchise used in Ormoc City 14. Bank deposit at Citibank, Hong Kong 15. Business right in a foreign corporation 16. Trademark in the Philippines 17. Foreign shares of stock 18. Business right in a domestic partnership 19. Growing fruits in Marinduque land 20. Investment in a domestic partnership 21. House and lot in Las Pinas City 500,000 250,000 150,000 350,000 1,500,000 200,000 350,000 550,000 375,000 900,000 1,200,000 2,750,000 3,250,000 2,200,000 3,250,000 2,250,000 1,750,000 3,750,000 600,000 400,000 4,500,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Public Sector Audit

Authors: Carolyn J. Cordery, David C. Hay

1st Edition

0367650622, 9780367650629

More Books

Students also viewed these Accounting questions