Nicanor is a married man with surviving spouse: Community Properties: Real Property located in Manila - Php 5,000,000 Bank deposits – Php 5,000,000 Exclusive Properties: Family Home in Nueva Ecija – Php 10,000,000 Other Exclusive properties – Php 2,000,000 Community Deductions: Funeral Expenses – Php 500,000 Other Valid Deductions – Php 1,000,000 Medical Expenses – Php 1,000,000 Assuming Nicanor is head of the family, how much is the NET DISTRIBUTABLE ESTATE?
Nicanor is a married man with surviving spouse: Community Properties: Real Property located in Manila - Php 5,000,000 Bank deposits – Php 5,000,000 Exclusive Properties: Family Home in Nueva Ecija – Php 10,000,000 Other Exclusive properties – Php 2,000,000 Community Deductions: Funeral Expenses – Php 500,000 Other Valid Deductions – Php 1,000,000 Medical Expenses – Php 1,000,000 Assuming Nicanor is head of the family, how much is the NET DISTRIBUTABLE ESTATE?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Nicanor is a married man with surviving spouse:
Community Properties:
Real Property located in Manila - Php 5,000,000
Bank deposits – Php 5,000,000
Exclusive Properties:
Family Home in Nueva Ecija – Php 10,000,000
Other Exclusive properties – Php 2,000,000
Community Deductions:
Funeral Expenses – Php 500,000
Other Valid Deductions – Php 1,000,000
Medical Expenses – Php 1,000,000
Assuming Nicanor is head of the family, how much is the NET DISTRIBUTABLE ESTATE?
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