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Jonathan donated a vacant lot held as capital asset to his brother in law. The assessed value and zonal value of the land were P900,000 and P1,200,000 respectively. The land had unpaid mortgage of P300,000 which was not assumed by the done and an unpaid realty tax of P20,000 which was assumed by the done. Requirement: Calculate the donors due.

Jonathan donated a vacant lot held as capital asset to his brother in law. The assessed value and zonal value of the land were P900,000 and P1,200,000 respectively. The land had unpaid mortgage of P300,000 which was not assumed by the done and an unpaid realty tax of P20,000 which was assumed by the done. Requirement: Calculate the donors due.

FINANCIAL ACCOUNTING
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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Please answer question 2.

2. Jonathan donated a vacant lot held as capital asset to his brother in law. The assessed value and zonal value of the land were P900,000 and P1,200,000 respectively. The land had unpaid mortgage of P300,000 which was not assumed by the done and an unpaid realty tax of P20,000 which was assumed by the done. Requirement: Calculate the donors due. 3. Mr. and Mrs. Mapagbigay made the following donations during 2021: Inn 16 e lon their logitimate con account of marringo lact Ian 20 01
Transcribed Image Text:2. Jonathan donated a vacant lot held as capital asset to his brother in law. The assessed value and zonal value of the land were P900,000 and P1,200,000 respectively. The land had unpaid mortgage of P300,000 which was not assumed by the done and an unpaid realty tax of P20,000 which was assumed by the done. Requirement: Calculate the donors due. 3. Mr. and Mrs. Mapagbigay made the following donations during 2021: Inn 16 e lon their logitimate con account of marringo lact Ian 20 01
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