(Solve the following problems base on the business taxation laws of the Philippines)

1. Edward donated a lot worth P650,000 to his cousin Karl subject to the condition that Karl will assume the P50,000 accrued real property tax on the lot. What is the donor's tax? *

P21,000 P24,000 P36,000 0

1. Neils Bohr died with a receivable collectible from Ernest Rutherford. Ernest Rutherford has assets amounting to P400,000, and liabilities amounting to P1,000,000, and included among Ernest's liabilities is an obligation on unpaid taxes payable to the government amounting to P100,000. Neils also mortgaged his property to the bank in consideration for a loan worth P1,000,000. The property is worth P1,500,000. P300,000 of the loan was paid by Niels before her death. How much may Neils' estate claim as deduction for claims against insolvent persons? *

P100,000 P120,000 P180,000 P200,000

In relation to the mortgage, how much may be claimed as a deduction? *

P700,000 P1,000,000 P1,200,000 P1,500,000

With no more money left, the heirs of Vina Bangko were left with no recourse but to withdraw from the bank account of Vina who died on month ago. Vina's bank deposits amount to P2,400,000. Vina's net taxable estate after deducting special deductions and the share of the surviving spouse is P12,500,000, excluding the amount withdrawn. Pending the payment of estate taxes to BIR, what is the maximum amount that the heirs of Vina can receive from bank in relation to Vina's bank account? *

P2,112,000 P2,256,000 P2,332,000 P2,400,000