timed task, need help thanks!about transfer taxes A resident citizen of the Philippines made the following donations onone date:• To legitimate son P 100,000To a legitimate daughter and her husband-to-be, on account ofmarriage 15,000• To a recognized natural son 30,000To the Philippine Supreme Court 60,000To an illegitimate daughter 40,000To a sister 12,000To a charitable institution 20,000The deductions from gross gift is:250,00080,00060,000O 270,000

As per the provisions of Doner's Tax as per BIR in…

Answered: resident citizen of thne Philippines…

Business

Accounting

resident citizen of thne Philippines made the following donations on

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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Concept explainers

Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.

Question

timed task, need help thanks!

about transfer taxes

A resident citizen of the Philippines made the following donations on
one date:
• To legitimate son P 100,000
To a legitimate daughter and her husband-to-be, on account of
marriage 15,000
• To a recognized natural son 30,000
To the Philippine Supreme Court 60,000
To an illegitimate daughter 40,000
To a sister 12,000
To a charitable institution 20,000
The deductions from gross gift is:
250,000
80,000
60,000
O 270,000

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