Mr. Xasa. Filipino, marted last November 20, 2010, cied on Nov. 21, 2015, leaving the following assets and expenses: ASSETS Azucarera. Iorlac House and Lot, San Juan, Metro Mania (tamily home) 2-Door Apartment In Quezon City, donated by his parents in 2008 Investment in a Domestic Partnership Personal Property Cash in Bank 1.800.000 1.350,000 700,000 400.000 160,000 200.000 EXPENSES Funeral expenses Unpald mortgage on Azucarera Unpald mortgage on Apartment Medical expenses 130.000 140,000 100.000 75.000 Required: Determine the net taxable estate and estate tax.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Subject: Transfer and business taxation

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Mr. Yosa, Fililpino, marted last November 20, 2010, died on Nov. 21, 2015, leaving the
following assets and expenses:
ASSETS
1.800.000
1,350,000
Azucarera. Tarlac
House and Lot, San Juan, Metro Manila (family home)
2-Door Apartment in Quezon City, donated by his
parents in 2008
Investment in a Domestic Partnership
700,000
400.000
Personal Property
Cash in Bank
160,000
200.000
EXPENSES
Funeral expenses
Unpaid mortgage on Azucarera
Unpaid mortgage on Apartment
Medical expenses
130,000
140,000
100.000
75,000
Required: Determine the net taxable estate and estate tax.
Transcribed Image Text:Mr. Yosa, Fililpino, marted last November 20, 2010, died on Nov. 21, 2015, leaving the following assets and expenses: ASSETS 1.800.000 1,350,000 Azucarera. Tarlac House and Lot, San Juan, Metro Manila (family home) 2-Door Apartment in Quezon City, donated by his parents in 2008 Investment in a Domestic Partnership 700,000 400.000 Personal Property Cash in Bank 160,000 200.000 EXPENSES Funeral expenses Unpaid mortgage on Azucarera Unpaid mortgage on Apartment Medical expenses 130,000 140,000 100.000 75,000 Required: Determine the net taxable estate and estate tax.
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