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

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter16: Accounting Periods And Methods
Section: Chapter Questions
Problem 39P
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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?

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