Identify the correct answer to the following 1-3 (show solution): 1. What is the total gross conjugal property?2. What is the total gross exclusive property? 3. What is the net share of the surviving spouse? 4. What is the net taxable estate? COMPREHENSIVE PROBLEM 3:The decedent died on January 5, 2021. He was married and it was notedthat the spouses indicated in their marriage settlement that theirproperty relationship is under the Conjugal Partnership of Gains regime.The following information were from the estate of a decedent:Properties:●•Family home, P12,000,000Domestic shares inherited 6 years ago during marriage,P6,000,000• Bank deposit representing dividend earned during.marriage, P1,000,000• Jewelry received as gift 8 years ago during marriage,P1,000,000Expenses:.• Claims against the estate, P4,000,000• Funeral éxpenses, P1,000,000.• Judicial expenses, P500,000.

Based on the given information, here are the solutions to the questions: 1. Total Gross Conjugal…

Identify the correct answer to the following 1-3 (show solution): 1. What is the total gross conjugal property? 2. What is the total gross exclusive property? 3. What is the net share of the surviving spouse?

Identify the correct answer to the following 1-3 (show solution): 1. What is the total gross conjugal property? 2. What is the total gross exclusive property? 3. What is the net share of the surviving spouse?

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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Question

Identify the correct answer to the following 1-3 (show solution):

1. What is the total gross conjugal property?

2. What is the total gross exclusive property?

3. What is the net share of the surviving spouse?

4. What is the net taxable estate?

COMPREHENSIVE PROBLEM 3:
The decedent died on January 5, 2021. He was married and it was noted
that the spouses indicated in their marriage settlement that their
property relationship is under the Conjugal Partnership of Gains regime.
The following information were from the estate of a decedent:
Properties:
●
•
Family home, P12,000,000
Domestic shares inherited 6 years ago during marriage,
P6,000,000
• Bank deposit representing dividend earned during
.
marriage, P1,000,000
• Jewelry received as gift 8 years ago during marriage,
P1,000,000
Expenses:
.
• Claims against the estate, P4,000,000
• Funeral éxpenses, P1,000,000
.
• Judicial expenses, P500,000
.

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