Opus Limited is a Canadian controlled private corporation. During 2019, the company received the following dividends: 12

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Opus Limited is a Canadian controlled private corporation. During 2019, the company received the following dividends:

12 Dividends on Portfolio Investments $ 35,000

Dividends from Magnum inc. (100% 45.000 55.000

Dividends from Masterpiece Ltd. (100%)($100,00011 401000

Opus owns 100% of the shares of Man of the shares of Masterpiece Ltd. Masterpiece received dividend refund of $10,000 on its dividend payment, warum received a dividend refund of $15,000

Determine the amount of Part IV Tax payable by Optimited to the current year.

$29,417

$38,417

$32,417.

$49,833

Related Book For answer-question

Advanced Financial Accounting

ISBN: 978-0137030385

6th edition

Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay

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Posted Date: Aug 15, 2020 04:01 AM

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Opus Limited is a Canadian controlled private corporation. During 2019, the company received the following dividends: 12

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EXPLANATION The Part IV Tax is Payable as follows Portfolio Dividend Received from those ... View the full answer

Advanced Financial Accounting

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