Question
Norton Inc. is a CCPC that has the following information for the current year: Canadian active business income=$150,000, Dividend from a taxable Canadian corporation=15,000, Aggregate
Norton Inc. is a CCPC that has the following information for the current year: Canadian active business income=$150,000, Dividend from a taxable Canadian corporation=15,000, Aggregate investment income =50,000, Taxable income =200,000, Income eligible for the small business deduction=140,000, Part I tax payable for the year =21,900. The refundable portion of Part I tax for the year is equal to:
| $12,450
| ||
| $18,400.
| ||
| $15,335.
| ||
| $20,600. |
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
