7. Lina Lamay, Filipina, died in China leaving the following properties: House and lot in China P1,500,000 2,500,000 150,000 200,000 450,000 Vacant lot in Makati Shares of stock in a domestic corp., 60% of the business is located in the Philippines Shares of stock in a foreign corp., 70% of the business is located in the Philippines Car in Pasig How much is the gross estate, assuming the decedent is a non-resident alien? 8. Based on the problem given in no. 7, the rule of reciprocity applies, compute the gross estate?

7. Lina Lamay, Filipina, died in China leaving the following properties: House and lot in China P1,500,000 2,500,000 150,000 200,000 450,000 Vacant lot in Makati Shares of stock in a domestic corp., 60% of the business is located in the Philippines Shares of stock in a foreign corp., 70% of the business is located in the Philippines Car in Pasig How much is the gross estate, assuming the decedent is a non-resident alien? 8. Based on the problem given in no. 7, the rule of reciprocity applies, compute the gross estate?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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