For items 6-10. A donor transferred the following properties on a certain day:PhilippinesAbroadCashP 400,000РОLand1,000,000Car3,000,000B6. Assuming the donor is a resident citizen, what is the amount of the donationinter-vivos?a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,0001,000,000 + 400,000= P1,400,000_7. Assuming the donor is a resident alien, what is the amount of the donationinter-vivos?a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,0003,000,000 + 1,000,000 = P4,000,0008. Assuming the donor is a non-resident citizen, what is the amount of thedonation inter-vivos?a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000Land = P1,000,0009. Assuming the donor is a non-resident alien, what is the amount of thedonation inter-vivos?a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,0003,000,000 + 1,000,000 + 400,000 = P4,400,000C_10. Assuming the donor is a non-resident alien with a reciprocity exemption,what is the amount of the donation inter-vivos?a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,0003,000,000 + 1,000,000 = P4,000,000

Donation Inter Vivos-: Donation Inter Vivos is a kind of agreement. A contract which carries place…

Answered: Philippines Abroad P 400,000 PO…

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Philippines Abroad P 400,000 PO 1,000,000 3,000,000 ming the donor is a resident citizen, what is the amount of the

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

100%

For items 6-10. A donor transferred the following properties on a certain day:
Philippines
Abroad
Cash
P 400,000
РО
Land
1,000,000
Car
3,000,000
B
6. Assuming the donor is a resident citizen, what is the amount of the donation
inter-vivos?
a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000
1,000,000 + 400,000
= P1,400,000
_7. Assuming the donor is a resident alien, what is the amount of the donation
inter-vivos?
a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000
3,000,000 + 1,000,000 = P4,000,000
8. Assuming the donor is a non-resident citizen, what is the amount of the
donation inter-vivos?
a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000
Land = P1,000,000
9. Assuming the donor is a non-resident alien, what is the amount of the
donation inter-vivos?
a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000
3,000,000 + 1,000,000 + 400,000 = P4,400,000
C_10. Assuming the donor is a non-resident alien with a reciprocity exemption,
what is the amount of the donation inter-vivos?
a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000
3,000,000 + 1,000,000 = P4,000,000

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