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QID: #38393
Solution for QID #38393: Next three (3) questions are based on the following data: | StudyHelpMe
Next three (3) questions are based on the following data:
Rody, a resident citizen made the following donations.
To Mar, a land worth P450,000 in Manila
To Leni, Jewelry worth P100,000 in Japan
To Miriam, PLDT shares amounting to P150,000
To Jojo, a building in Italy P1,600,000 mortgaged for P50,000 assumed by the donee.
To Allan, land in Davao worth P300,000
To A. Trillanes, P300,000 cash, PNB New York
Selling Price
FMV
Car, Makati
P200,000
P300,000
Car, Malaysia
300,000
200,000
Rest House,
Tagaytay
1,000,000
2,000,000
Rest House,
Malaysia
1,500,000
2,500,000
P200,000 receivable to Joy, 50% condoned by Rody Rody also transferred the following properties:
1. How much is the gross gift?
a. P5,200,000 c. P4,100,000
b. P4,200,000 d. P3,200,000
2. If she is a non-resident Alien, her gross gift is:
a. P3,200,000 c. P1,100,000
b. P1,200,000 d. P850,000
3. If she is a non-resident alien, and there is reciprocity law, her gross gift is:
a. P850,000 c. P1,050,000
b. P950,000 d. P700,000
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