Ken donated the following properties Land in Los Angeles, California, U.S.A. - P250, 000 Land and building in Jolo, Sulu - 175,000 Car registered in the State of California, U.S.A. - 225,000 Jewelries in the Philippines 45, 000 60, 000 Shares of stock in a corporation based in the U.S.A. - Accounts receivable debtor is in the Philippines - 25,000 If Ken is a resident citizen, the gross gift is -

Ken donated the following properties Land in Los Angeles, California, U.S.A. - P250, 000 Land and building in Jolo, Sulu - 175,000 Car registered in the State of California, U.S.A. - 225,000 Jewelries in the Philippines 45, 000 60, 000 Shares of stock in a corporation based in the U.S.A. - Accounts receivable debtor is in the Philippines - 25,000 If Ken is a resident citizen, the gross gift is -

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

If ken is a resident citizen of the philippines

Ken donated the following properties
Land in Los Angeles, California, U.S.A. - P250, 000
Land and building in Jolo, Sulu - 175,000
Car registered in the State of California, U.S.A. 225, 000
Jewelries in the Philippines - 45,000
60, 000
Shares of stock in a corporation based in the U.S.A. -
Accounts receivable debtor is in the Philippines - 25,000
If Ken is a resident citizen, the gross gift is -
-

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