GIVEN: ▪ Decedent - Filipino citizen ▪ Died - June 2021 ▪ Marriage - April 2013 ▪ Survived by - spouse, parents, 2 children Properties/Rights/Obligations at the time of death ▪ Residential house and lot (family home) purchased in 2014 Building apartment brought into the marriage (acquired in 2000) Income specifically identified from building apartment Bank deposit-EPCIB Agricultural land inherited by decedent 10 years ago from mother (value then 600,000) Farm inherited by decedent 3 years ago from father (value when inherited 2,500,000) Family car (acquired 2015) Other properties Unpaid mortgage - building apartment Unpaid taxes building apartment 19,000,000 20,000,000 3,000,000 5,000,000 800,000 2,800,000 550,000 1,000,000 1,000,000 100,000

GIVEN: ▪ Decedent - Filipino citizen ▪ Died - June 2021 ▪ Marriage - April 2013 ▪ Survived by - spouse, parents, 2 children Properties/Rights/Obligations at the time of death ▪ Residential house and lot (family home) purchased in 2014 Building apartment brought into the marriage (acquired in 2000) Income specifically identified from building apartment Bank deposit-EPCIB Agricultural land inherited by decedent 10 years ago from mother (value then 600,000) Farm inherited by decedent 3 years ago from father (value when inherited 2,500,000) Family car (acquired 2015) Other properties Unpaid mortgage - building apartment Unpaid taxes building apartment 19,000,000 20,000,000 3,000,000 5,000,000 800,000 2,800,000 550,000 1,000,000 1,000,000 100,000

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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