Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TIMED TASK. NEED HELP ASAP. Lika-lika died leaving the following properties: House and lot in the Philippines P (mortgaged for P300,000) 1,250,000 Condominium unit in

TIMED TASK. NEED HELP ASAP.

image text in transcribed

Lika-lika died leaving the following properties: House and lot in the Philippines P (mortgaged for P300,000) 1,250,000 Condominium unit in Hongkong 1,000,000 Car in the Philippines 70,000 Car in Hongkong 60,000 Franchise exercised in the 300,000 Philippines Franchise exercised in New York, 25,000 USA Domestic shares, certificate kept 55,000 in New York, USA Foreign shares, 90% of business in 60,000 the Philippines Foreign shares, 30% of business in the Philippines, with business situs 15,000 in the Philippines. Foreign shares, 60% of business in 75,000 the Philippines The gross estate if the decedent was a resident citizen, resident alien or a non-resident citizen is O 1,620,000 1,770,000 O 1,750,000 2,910,000

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

Mindful Brand Auditing The New Way To Explore Brand Value

Authors: Kurt Gassner

1st Edition

3987939176, 978-3987939174

More Books

Students also viewed these Accounting questions