Use the following data for the next two questions: Jhon, a NON-RESIDENT ALIEN, died on NOV. 2, 2018, He left the following properties, expenses and obligations: Community properties, Philippines (Including family home valued at P6M) Community properties abroad Exclusive properties, Philippines Actual funeral expense Judicial expenses 12,000,000 4,000,000 5,000,000 300,000 200,000 Medical expenses incurred within one year before death Claims against the estate Devise to national government Devise to local government 750,000 800,000 500,000 700,000 8. The net taxable estate of the nonresident alien shall be: a. P8,900,000 b. P9,500,000 C. P4,400,000 d. P3,400,000

Use the following data for the next two questions: Jhon, a NON-RESIDENT ALIEN, died on NOV. 2, 2018, He left the following properties, expenses and obligations: Community properties, Philippines (Including family home valued at P6M) Community properties abroad Exclusive properties, Philippines Actual funeral expense Judicial expenses 12,000,000 4,000,000 5,000,000 300,000 200,000 Medical expenses incurred within one year before death Claims against the estate Devise to national government Devise to local government 750,000 800,000 500,000 700,000 8. The net taxable estate of the nonresident alien shall be: a. P8,900,000 b. P9,500,000 C. P4,400,000 d. P3,400,000

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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