A non-resident Australian, married, died and left the following proeprties: Philippines Australia Other Separate Properties 3,000,000 8,000,000 Other Common Properties 8,500,000 15,000,000 Claims against insolvent persons 500,000 (only 20% can be collected) Family Home (common) 12,000,000 Claims against the estate 200,000 900,000 Loss of a common property due to a 500,000 storm In addition, separate properties worth P500,000 was transferred to the Australian government and foreign estate tax paid was P1,000,000. How much is the estate tax payable? 399,428.57 648,857.14 186,000.00 472,564.60 BONUS

A non-resident Australian, married, died and left the following proeprties: Philippines Australia Other Separate Properties 3,000,000 8,000,000 Other Common Properties 8,500,000 15,000,000 Claims against insolvent persons 500,000 (only 20% can be collected) Family Home (common) 12,000,000 Claims against the estate 200,000 900,000 Loss of a common property due to a 500,000 storm In addition, separate properties worth P500,000 was transferred to the Australian government and foreign estate tax paid was P1,000,000. How much is the estate tax payable? 399,428.57 648,857.14 186,000.00 472,564.60 BONUS

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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