Mr. Fabic a Filipino died in Canada leaving the following: Cost Property Bank deposit Location Abroad P1,000,000 650,000 Philippines Car Family home Philippines 2,800,000 Expenses: Funeral Judicial 135,000 45,000 FMV at Death P 1,000,000 160,000 2,350,000 Medical 600,000 Required: Compute the total allowable deductions from the gross estate.

Mr. Fabic a Filipino died in Canada leaving the following: Cost Property Bank deposit Location Abroad P1,000,000 650,000 Philippines Car Family home Philippines 2,800,000 Expenses: Funeral Judicial 135,000 45,000 FMV at Death P 1,000,000 160,000 2,350,000 Medical 600,000 Required: Compute the total allowable deductions from the gross estate.

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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