Mr. and Mrs. Herrera made donations of their conjugal property to the following: Date of Donation...

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Mr. and Mrs. Herrera made donations of their conjugal property to the following: Date of Donation Jan. 25 April 8 May 13 June 13 Sept. 20 Dec. 25 Donee To son, Leonard and his bride, Pam on their wedding day. bysnos To Integrated Bar of the Philippines To the Province of Cavite. To Lance, Mrs. Herrera's brother, on his 21st birthday. To Mayor Roces, on his comeback bid for mayoralty race. To Patty, Mr. Herrera's sister for passing the bar exams. a. PO Property donated 2. Mrs. Herrera's net gift to Pam on Jan. 25 a. PO b. P10,000 Farm in Camiguin 3. Mrs. Herrera's exemption on the April 8 gift. bo a. PO b. P10,000 Cash Lot for public park Apartment unit 4. Mrs. Herrera's net gift on the May 13 gift a. P2,000,000 b. P400,000 5. Mrs. Herrera's exemption on the June 13 gift a. P2,000,000 b. P400,000 Cash 1. Mrs. Herrera's exemption on the Jan. 25 gift to Leonard b. P10,000 c. P250,000 Cash 000 c. P250,000 GODAS On the apartment unit donated by Mrs. Herrera to her brother, Lance, has unpaid mortgage of P600,000. Of the P860,000 cash given to Mr. Herrera's sister, Patty, Mr. Herrera made it clear that P60,000 must be donated to Sacred Heart Parish. C. P250,000 000/025 Fair market value 000 P1,600,000 1OOO S c. P300,000 800,000 4,000,000 c. P300,000 1,400,000 600,000 860,000 000,000 $7 d. P400,000 add to godgmong 'sush Jense sit amet JM d. P400,000 SHIM to Yg (2016101 000 089 09 d. P400,000 d. PO d. PO abs 6. Mrs. Herrera's net gift on the Dec. 25 gift a. P2,000,000 b. P400,000 7. Total gross gift of Mrs. Herrera's for the year a. P1,350,000 b. P1,590,000 8. Mrs. Herrera's donor's tax on all prior gifts a. P24,000 b. P57,000 a. PO 9. Mr. Herrera's net gift on the Jan. 25 gift to Leonard b. P10,000 c. P250,000 a. PO 10. Mr. Herrera's exemption on the Jan. 25 gift to Pam c. P250,000 b. P10,000 11. Mr. Herrera's net gift on the April 8 gift b. P10,000 a. PO c. P300,000 c. P1,600,000 13. Mr. Herrera's net gift on the June 13 gift a. P2,000,000 b. P400,000 c. P81,000 b. P400,000 12. Mr. Herrera's exemption on the May 13 gift a. P2,000,000 b. P400,000 b. P1,590,000 c. P250,000 c. P300,000 14. Mr. Herrera's exemption on the Dec. 25 gift a. P430,000 c. P300,000 c. P30,000 15. Total gross gift of Mr. Herrera's for the year a. P1,350,000 c. P1,600,000 d. PO d. P2,200,000 c. P81,000 d. P96,000 d. P400,000 d. P400,000 d. P400,000 d. PO 000.0091615 d. PO Po no, qoy sientsi d. P2,200,000 Taver d. PO 16. Mr. Herrera's donor's tax on total net gifts a. P24,000 b. P57,000 17. Mr. Herrera's donor's tax still due on the last donation for the year a. P24,000 b. P57,000 c. P81,000 don. d. P96,000 d. P96,000 Over P 100,000 200,000 500,000 1,000,000 3,000,000 5,000,000 10,000,000 But Not Over P 100,000 200,000 500,000 1,000,000 3,000,000 5,000,000 10,000,000 The Shall be Exempt Tax 0 2,000 14,000 44,000 204,000 404,000 1,004,000 Plus 2% 4% 6% 8% 10% 12% 15% Of Excess Over P100,000 200,000 500,000 1,000,000 3,000,000 5,000,000 10,000,000 the Mr. and Mrs. Herrera made donations of their conjugal property to the following: Date of Donation Jan. 25 April 8 May 13 June 13 Sept. 20 Dec. 25 Donee To son, Leonard and his bride, Pam on their wedding day. bysnos To Integrated Bar of the Philippines To the Province of Cavite. To Lance, Mrs. Herrera's brother, on his 21st birthday. To Mayor Roces, on his comeback bid for mayoralty race. To Patty, Mr. Herrera's sister for passing the bar exams. a. PO Property donated 2. Mrs. Herrera's net gift to Pam on Jan. 25 a. PO b. P10,000 Farm in Camiguin 3. Mrs. Herrera's exemption on the April 8 gift. bo a. PO b. P10,000 Cash Lot for public park Apartment unit 4. Mrs. Herrera's net gift on the May 13 gift a. P2,000,000 b. P400,000 5. Mrs. Herrera's exemption on the June 13 gift a. P2,000,000 b. P400,000 Cash 1. Mrs. Herrera's exemption on the Jan. 25 gift to Leonard b. P10,000 c. P250,000 Cash 000 c. P250,000 GODAS On the apartment unit donated by Mrs. Herrera to her brother, Lance, has unpaid mortgage of P600,000. Of the P860,000 cash given to Mr. Herrera's sister, Patty, Mr. Herrera made it clear that P60,000 must be donated to Sacred Heart Parish. C. P250,000 000/025 Fair market value 000 P1,600,000 1OOO S c. P300,000 800,000 4,000,000 c. P300,000 1,400,000 600,000 860,000 000,000 $7 d. P400,000 add to godgmong 'sush Jense sit amet JM d. P400,000 SHIM to Yg (2016101 000 089 09 d. P400,000 d. PO d. PO abs 6. Mrs. Herrera's net gift on the Dec. 25 gift a. P2,000,000 b. P400,000 7. Total gross gift of Mrs. Herrera's for the year a. P1,350,000 b. P1,590,000 8. Mrs. Herrera's donor's tax on all prior gifts a. P24,000 b. P57,000 a. PO 9. Mr. Herrera's net gift on the Jan. 25 gift to Leonard b. P10,000 c. P250,000 a. PO 10. Mr. Herrera's exemption on the Jan. 25 gift to Pam c. P250,000 b. P10,000 11. Mr. Herrera's net gift on the April 8 gift b. P10,000 a. PO c. P300,000 c. P1,600,000 13. Mr. Herrera's net gift on the June 13 gift a. P2,000,000 b. P400,000 c. P81,000 b. P400,000 12. Mr. Herrera's exemption on the May 13 gift a. P2,000,000 b. P400,000 b. P1,590,000 c. P250,000 c. P300,000 14. Mr. Herrera's exemption on the Dec. 25 gift a. P430,000 c. P300,000 c. P30,000 15. Total gross gift of Mr. Herrera's for the year a. P1,350,000 c. P1,600,000 d. PO d. P2,200,000 c. P81,000 d. P96,000 d. P400,000 d. P400,000 d. P400,000 d. PO 000.0091615 d. PO Po no, qoy sientsi d. P2,200,000 Taver d. PO 16. Mr. Herrera's donor's tax on total net gifts a. P24,000 b. P57,000 17. Mr. Herrera's donor's tax still due on the last donation for the year a. P24,000 b. P57,000 c. P81,000 don. d. P96,000 d. P96,000 Over P 100,000 200,000 500,000 1,000,000 3,000,000 5,000,000 10,000,000 But Not Over P 100,000 200,000 500,000 1,000,000 3,000,000 5,000,000 10,000,000 The Shall be Exempt Tax 0 2,000 14,000 44,000 204,000 404,000 1,004,000 Plus 2% 4% 6% 8% 10% 12% 15% Of Excess Over P100,000 200,000 500,000 1,000,000 3,000,000 5,000,000 10,000,000 the

Answer rating: 100% (QA)

1 Mrs Herreras exemption on the Jan 25 gift to Leonard is P250000 2 Mrs Herreras net gift to Pam on ... View the full answer