The following are the composition of Florence estate. Insurance proceeds from SSS P90,000 Transfer with reservation of

Fantastic news! We've Found the answer you've been seeking!

Question:

The following are the composition of Florence estate.

Insurance proceeds from SSS P90,000

Transfer with reservation of certain rights 135,000

Merger of usufruct in the owner of the naked title 400,000

Donation to the Red Cross 220,000

Life insurance with his daughter as revocable beneficiary 500,000

Transfers under general power of appointment 100,000

Transfers under special power of appointment 75,000

36. Based on the above information, how much should be included as part of Florence's gross estate?

Related Book For answer-question

Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

See More Books

Posted Date: Feb 26, 2024 03:09 AM

See More Questions

List and briefly explain the key relevant features of: different communication styles different communication methods relevant cross-cultural communication techniques (include at least three in your...
The Better Business Bureau (BBB), through its BBB Wise Giving Alliance, provides information on the Internet about charitable organizations in the United States and Canada (see give.org or go to...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Write short note on context switch
How is Netflix an Innovator? What are the consequences to competitors of Netflix's innovations?
A large storage tank contains saturated liquid nitrogen at ambient pressure, 100 kPa; it is to be pumped to 500 kPa and fed to a pipeline at the rate of 0.5 kg/s. How much power input is required for...
Exercise 3.31 introduced the dataset StatisticsPhD, which gives enrollment for all 82 graduate statistics programs in the US in 2009. Use StatKey or other technology to generate a sampling...
Suppose that Bigco is currently trading for $100 per share. We know that in one year Bigco stock will sell for either $150 per share (good day) or for $75 per share (bad day). No other prices are...
what is the risk premium for a stock when the risk free rate is 5%, the S&P 500 index has an expected return of 22% and the stock has a beta of 2.5?
A loan of $7,419 was repaid at the end of 14 months. What amount of repayment check (principal and interest) was written, if a 4.7% annual rate of interest was charged?
Compare and contrast your favorite and least favorite commercials from this year's Super Bowl 2023 (if you are not watching the game you can just watch them later on YouTube). Using the topics and...
How does seafloor spreading relate to continental drift?
How does plate tectonics differ from continental drift?
Describe the fossil evidence that supported Wegeners hypothesis of continental drift.
Rain falls on land. Then what happens to it?
Why do we infer that salts must be removed from seawater about as fast as they are deposited?
Felix Berhad is a manufacturing bicycle company in Penang. It produces 450 cycles a month. It buys the tires from a supplier at a cost of INR 1,750 per tire. The companys inventory carrying cost is...
Reread the discussion leading to the result given in (7). Does the matrix sI - A always have an inverse? Discuss.
How are cost of production reports used for controlling and improving operations?
A retail business, using the accrual method of accounting, owed merchandise creditors (accounts payable) $290,000 at the beginning of the year and $315,000 at the end of the year. How would the...
The following data were extracted from the accounting records of Meniscus Company for the year ended June 30, 2008: a. Prepare the cost of merchandise sold section of the income statement for the...
The distribution of the energy of the molecules is also of importance in the kinetics of chemical reactions. The fraction of molecules with energy in the range between $E$ and $E+d E$ is given...
Show the details leading to the equation (1.52) in the text, \[D_{\mathrm{AA}}=\frac{1}{3} \bar{c} \lambda\] where $D_{\mathrm{AA}}$ is the self-diffusion coefficient.
The simple formula $C_{p}=(5 / 2) R$ (molar units) is valid only for monatomic gases. A simple extension that has been suggested is \[C_{p}=\left(5+N_{\mathrm{r}} ight) \frac{1}{2} R\] where...

The following are the composition of Florence estate. Insurance proceeds from SSS P90,000 Transfer with reservation of

Question:

Expert Answer:

To determine the gross estate of Florence we need to consider the items listed and include those that are subject to inclusion as per estate tax regul... View the full answer

Accounting

Students also viewed these law questions