Mr. O, Filipino, married, died on August 1, 2018, three years after his marriage to Mrs. O. He left the following: a. Property inherited by Mr. O from his father who died February 14, 2013 b. Property inherited by Mrs. O from her father who died February 14, 2014 c. Property inherited by Mr. O from his mother who died February 14, 2015 d. Property inherited by Mrs. O from her mother who died February 14, 2016 e. Property acquired thru the labor of Mr. O Mrs. O Mr. & Mrs. O (family home) f. Other personal property Deductions claimed by the estate: P3,000,000 1,200,000 1,800,000 1,400,000 2,000,000 1,500,000 2,400,000 1,600,000
Mr. O, Filipino, married, died on August 1, 2018, three years after his marriage to Mrs. O. He left the following: a. Property inherited by Mr. O from his father who died February 14, 2013 b. Property inherited by Mrs. O from her father who died February 14, 2014 c. Property inherited by Mr. O from his mother who died February 14, 2015 d. Property inherited by Mrs. O from her mother who died February 14, 2016 e. Property acquired thru the labor of Mr. O Mrs. O Mr. & Mrs. O (family home) f. Other personal property Deductions claimed by the estate: P3,000,000 1,200,000 1,800,000 1,400,000 2,000,000 1,500,000 2,400,000 1,600,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:50. Mr. O, Filipino, married, died on August 1, 2018, three years after his marriage to Mrs. O. He left the
following:
a. Property inherited by Mr. O from his father who died February 14, 2013
b. Property inherited by Mrs. O from her father who died February 14, 2014
c. Property inherited by Mr. O from his mother who died February 14, 2015
d. Property inherited by Mrs. O from her mother who died February 14, 2016
c. Property acquired thru the labor of
P3,000,000
1,200,000
1,800,000
1,400,000
Mr. O
Mrs. O
Mr. & Mrs. O (family bome)
2,000,000
1,500,000
2,400,000
1,600,000
f. Other personal property
Deductions claimed by the estate:
a. Funeral expense
b. Unpaid mortgages on property in letters:
a 500,000
c. Claims against the estate
d. Accrued taxes (before the death of Mr.O)
220,000
b. 300,000
c. 180,000
d 200,000
170,000
80,000
Determine the net taxable estate assuming
1. Conjugal partnership of gains
2. Absolute community of property
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