ii. operue Land in Spain (with P1M unpaid mortgage) P2,000,000; Land in Batangas, Philippines 500,000; Franchise in Switzerland 100,000; Receivable from debtor in Philippines 70,000; Receivable from debtor in Switzerland 100,000; Bank deposits in Switzerland 80,000; Shares of stocks of ABS-CBN (listed), Philippines 75,000; Shares of stocks of RPH, foreign corporation 80% of the business in the Philippines 125,000; Other personal properties 300,000; Zonal value of the land in Batangas 750,000. i. If the decedent is a non-resident citizen, his gross estate is iv. ut estate tax matters. If the decedent is a non-resident alien without reciprocity, his gross estate is If the decedent is a non-resident alien with reciprocity, his gross estate is Assuming the ABS-CBN shares are not listed, and there are 1,000 shares at the time of death, ABC-CBN's outstanding shares were 10,000 shares. Its retained earnings were P2,000,000, par value per share was P50. The gross estate should show the said shares at

ii. operue Land in Spain (with P1M unpaid mortgage) P2,000,000; Land in Batangas, Philippines 500,000; Franchise in Switzerland 100,000; Receivable from debtor in Philippines 70,000; Receivable from debtor in Switzerland 100,000; Bank deposits in Switzerland 80,000; Shares of stocks of ABS-CBN (listed), Philippines 75,000; Shares of stocks of RPH, foreign corporation 80% of the business in the Philippines 125,000; Other personal properties 300,000; Zonal value of the land in Batangas 750,000. i. If the decedent is a non-resident citizen, his gross estate is iv. ut estate tax matters. If the decedent is a non-resident alien without reciprocity, his gross estate is If the decedent is a non-resident alien with reciprocity, his gross estate is Assuming the ABS-CBN shares are not listed, and there are 1,000 shares at the time of death, ABC-CBN's outstanding shares were 10,000 shares. Its retained earnings were P2,000,000, par value per share was P50. The gross estate should show the said shares at

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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