X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking account, one in saving account and another in time deposit account. Each account has a balance of P250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. How much can X claim for all the three accounts? Explain.

X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking account, one in saving account and another in time deposit account. Each account has a balance of P250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. How much can X claim for all the three accounts? Explain.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 20CE

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