Mr. and Mrs. Garcia, citizens and residents of the Philippines, made the following donations:June 5, 2001   To Mario, a legitimate son, on account of marriage,                            Php 230, 000                           To Nieva, a legitimate daughter, property with mortgage of                                 Php 2, 000 which was assumed by Nieva, with fair market                                  value of Php 10, 000.Oct. 7, 2001    To Dennis, a legitimate son of Mrs. Garcia by a prior                           Marriage, given on account of marriage, Php 40, 000April 3, 2002  To Our Lady of Fatima Parish, Php 50, 000                            To Merle, a family friend, Php 20, 000How much is the donor’s tax of Mr. Garcia from the April donations?Select one:a.Php 400b.Php 6, 000c.Php 10, 000 d.Php 3, 000

Mr. Aguirre, a citizen and resident of the Philippines, made donations on January 9, 2001, as follows:To Wiggy, a legitimate son, on account of marriage to be celebrated on February 27, 2001, property in the US (on which a US donor’s tax of Php 1, 200 was paid), with a fair market value of Php 55, 000To Wiggy, cash in the Philippines of Php 50, 000.How much is the donor’s tax credit for donor’s tax paid in the US? Select one:a.Php 1, 000b. Php 0 c.Php 500 d.Php 600

Mr. Linao donated the following properties:To Lyka, a legitimate daughter, on account of marriage, land with a fair market value of Php 200, 000 but subject to a mortgage of Php 25, 000 which is paid by Mr. Linao.To Santino, a legitimate son, on account of marriage, cash of Php 50, 000.How much are the net gifts made?Select one:a.Php 225, 000b.Php 250, 000 c.Php 215, 000 d.Php 230, 000

To Ruth, a legitimate daughter, on account of marriage, land with a fair market value of Php 500,000 but subject to a mortgage of Php 100,000 which was paid by Mr. Eglon.To Boaz, a legitimate son, on account of marriage, cash of Php 100,000.Compute for the taxable net gift.a.P 557,000.00b.P 556,000.00c.P555,000.00d.P656,000.00

Juana, widow, earning an annual gross compensation income of P300,000 has the following dependent children in 2017Aubrey - baby, born on January 31Barbara - celebrated her 21st birthday last June 12Cristeta - married on January 1Diana -gainfully employed effective July 1Eliza - died of dengue fever on September 30Assuming Juana has two employers, her taxable income in 2017 is:Select one:a.P63,000b.P32,000c.P100,000d.P150,000

During the taxable year, Mr. Juan Dela Cruz separated legally from his wife, Andrea. The legally separated spouses have four qualified dependent children. Both spouses were earning with the following gross taxable income: Mr. Juan Dela Cruz, P380,000; Ms. Andrea, P250,000. For custody, the court granted Mr. Dela Cruz the two children and Ms. Andrea the remaining two children. Meanwhile, Mr. Juan Dela Cruz is supporting his niece who is 21 years old, unmarried, and not gainfully employed. Both spouses have monthly premium payment of P150 for health and insurance.The additional personal exemption of Mr. Juan Dela Cruz is:Select one:a.P50,000b.P25,000c.Zerod.P75,000