Allan left the following bank deposits upon his death:
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Allan left the following bank deposits upon his death:
- A bank- 1,000,000
- B bank- 2,000,000
- C bank- 3,000,000
How much is the final tax required to be withheld by the bank assuming the heirs will opt for final tax?
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- Nicanor left the following bank deposits upon his death: - Uno Bank- 1,000,000 - Dos Bank- 2,000,000 - Tri Bank- 3,000,000 How much is the final tax required to be witheld by the bank assuming the heirs will opt for final tax?Liz left the following bank deposits upon his death A bank - 1000000 B bank - 2000000 c bank -3000000 how much is the final tax required to be withheld by the bank assuming the heirs will opt for final tax?Nicanor left the following bank deposits upon his death: Uno Bank- Php 1,000,000 Dos Bank Php 2,000,000 Tri Bank - Php 3.000.000 a. How much is the amount to be reported as part of gross estate assuming the heirs of Nicanor opted for final tax? b. How much is the final tax required to be withheld by the bank assuming the heirs will opt for final tax? c. How much is the estate tax?
- Nicanor left the following bank deposits upon his death: - Uno Bank- 1,000,000 - Dos Bank- 2,000,000 - Tri Bank- 3,000,000 How much is the estate tax?Allan left the following bank deposits upon his death: - A bank- 1,000,000 - B bank- 2,000,000 - C bank- 3,000,000 How much is the amount to be reported as part of gross estate assuming the heirs of allan opted for final tax?Liz left the following bank deposits upon his death A bank - 1000000 B bank - 2000000 c bank -3000000 how much is the amount to be reported as part of gross estate assuming the heirs of Nicanor opted for final tax?
- Nicanor left the following bank deposits upon his death: Uno Bank – Php 1,000,000 Dos Bank – Php 2,000,000 Tri Bank – Php 3,000,000 How much is the amount to be reported as part of gross estate assuming the heirs of Nicanor opted for final tax?Last year, lana purchased a $100,000 account receivable for $90,000. During the current year, Lucy collected $97,000 on the account. What are the tax consequences to Lucy associated with the collection of the account receivable? No subsequent collections are expected. a.$7,000 gain b.$3,000 loss c.$13,000 loss d.$2,000 gainJuan died with a receivable collectible from Ernest Rutherford. Ernest Rutherford has assets amounting to P400,000, and liabilities amounting to P1,000,000, and included among Ernest's liabilities is an obligation on unpaid taxes payable to the government amounting to P100,000. Neils also mortgaged his property to the bank in consideration for a loan worth P1,000,000. The property is worth P1,500,000. P300,000 of the loan was paid by Niels before her death. How much may Neils' estate claim as deduction for claims against insolvent persons? P100,000 P120,000 P180,000 P200,000
- First Statement – The heirs are allowed to withdraw from the decedent’s bank account withoutpresenting proof of payment of the estate tax, i.e., eCAR issued by the CIR or his duly authorizedrepresentative, provided the withdrawal will be subjected to a final withholding tax of six percent(6%)oftheamount tobewithdrawn.Second Statement - Cash in bank, withdrawn within 1 year from the death of the decedent, and subjected to the 6% withholding tax, is nolonger required to be added in the grosse state in the course of filing the estate tax return. a. True,True b. True,False c. False,False d. False, TrueFrom the following information, determine Marcie’s gross income for tax purposes. Salary $40,000 Interest (checking account) 50 Cash received as birthday gift 900 Dividends (mutual funds) 500 Inheritance received upon father’s death 22,000 Cash received from insurance for accident claim settlement 3,200 Cash dividend from stock 750Neils Bohr died with a receivable collectible from Ernest Rutherford. Ernest Rutherford has assets amounting to P400,000, and liabilities amounting to P1,000,000, and included among Ernest's liabilities is an obligation on unpaid taxes payable to the government amounting to P100,000. Neils also mortgaged his property to the bank in consideration for a loan worth P1,000,000. The property is worth P1,500,000. P300,000 of the loan was paid by Niels before her death. How much may Neils' estate claim as deduction for claims against insolvent persons? P100,000 P120,000 P180,000 P200,000
