resident citizen of thne Philippines made the following donations on
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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about transfer taxes

Transcribed Image Text: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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