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Elaine Ltd. is a Canadian-controlled private corporation. Its refundable dividend tax on hand (RDTOH) account at December 31, 2017 was $35,000. For its 2018 taxation
Elaine Ltd. is a Canadian-controlled private corporation. Its refundable dividend tax on hand (RDTOH) account at December 31, 2017 was $35,000. For its 2018 taxation year, its refundable portion of Part I tax was $29,000. The corporation received no dividends in 2018. It paid taxable dividends of $60,000 in 2017 and $75,000 in 2018.
The balance in Elaine Ltd.'s (RDTOH) account at December 31, 2018, rounded to the nearest thousand dollars is:
Question 8 options:
1)
$38,000
2)
$41,000
3)
$44,000
4)
$23,000
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