The administrator of a decedents estate (head of the family) provided the following data: Property...
60.1K
Verified Solution
Link Copied!
Question
Accounting
The administrator of a decedents estate (head of the family) provided the following data: Property Domestic shares of 2,000 shares inherited 6 years ago 8,000,000 House and lot, family home, located in Davao, inherited 2 years ago at a value of 1,500,000 2,000,000 Jewelry items in the Philippines at the time of death 400,000 Jewelry items kept in a vault abroad 200,000 Bank deposit in a Philippine branch of a US bank 5,000,000 Interest from bank deposits after decedents death 25,000 Expenses and other charges Funeral expenses abroad 80,000 Funeral expenses Philippines 200,000 Judicial expenses abroad 100,000 Judicial expenses, Philippines 50,000 Claims against the estate with the notarized debt instrument issued in the Philippines 120,000 Donation to the Philippine government as provided in his will 250,000 Required Determine the following if the decedent was a Filipino citizen but a resident of Australia Taxable Net Estate Estate Tax Due Determine the following if the decedent was not a Filipino citizen but a resident of Davao City Taxable Net Estate Estate Tax Due The administrator of a decedents estate (head of the family) provided the following data: Property Domestic shares of 2,000 shares inherited 6 years ago 8,000,000 House and lot, family home, located in Davao, inherited 2 years ago at a value of 1,500,000 2,000,000 Jewelry items in the Philippines at the time of death 400,000 Jewelry items kept in a vault abroad 200,000 Bank deposit in a Philippine branch of a US bank 5,000,000 Interest from bank deposits after decedents death 25,000 Expenses and other charges Funeral expenses abroad 80,000 Funeral expenses Philippines 200,000 Judicial expenses abroad 100,000 Judicial expenses, Philippines 50,000 Claims against the estate with the notarized debt instrument issued in the Philippines 120,000 Donation to the Philippine government as provided in his will 250,000 Required Determine the following if the decedent was a Filipino citizen but a resident of Australia a. Taxable Net Estate b. Estate Tax Due Determine the following if the decedent was not a Filipino citizen but a resident of Davao City a. Taxable Net Estate b. Estate Tax Due
The administrator of a decedents estate (head of the family) provided the following data:
Property
Domestic shares of 2,000 shares inherited 6 years ago
8,000,000
House and lot, family home, located in Davao, inherited 2 years ago at a value of 1,500,000
2,000,000
Jewelry items in the Philippines at the time of death
400,000
Jewelry items kept in a vault abroad
200,000
Bank deposit in a Philippine branch of a US bank
5,000,000
Interest from bank deposits after decedents death
25,000
Expenses and other charges
Funeral expenses abroad
80,000
Funeral expenses Philippines
200,000
Judicial expenses abroad
100,000
Judicial expenses, Philippines
50,000
Claims against the estate with the notarized debt instrument issued in the Philippines
120,000
Donation to the Philippine government as provided in his will
250,000
Required
Determine the following if the decedent was a Filipino citizen but a resident of Australia
Taxable Net Estate
Estate Tax Due
Determine the following if the decedent was not a Filipino citizen but a resident of Davao City
Taxable Net Estate
Estate Tax Due
The administrator of a decedents estate (head of the family) provided the following data:
Property
Domestic shares of 2,000 shares inherited 6 years ago
8,000,000
House and lot, family home, located in Davao, inherited 2 years ago at a value of 1,500,000
2,000,000
Jewelry items in the Philippines at the time of death
400,000
Jewelry items kept in a vault abroad
200,000
Bank deposit in a Philippine branch of a US bank
5,000,000
Interest from bank deposits after decedents death
25,000
Expenses and other charges
Funeral expenses abroad
80,000
Funeral expenses Philippines
200,000
Judicial expenses abroad
100,000
Judicial expenses, Philippines
50,000
Claims against the estate with the notarized debt instrument issued in the Philippines
120,000
Donation to the Philippine government as provided in his will
250,000
Required
Determine the following if the decedent was a Filipino citizen but a resident of Australia
a. Taxable Net Estate
b. Estate Tax Due
Determine the following if the decedent was not a Filipino citizen but a resident of Davao City
a. Taxable Net Estate
b. Estate Tax Due
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.