An individual owns 100% of a corporation. He has a desperate need for cash and wants to

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An individual owns 100% of a corporation. He has a desperate need for cash and wants to take out as much cash as possible.

Corp. - CDA Balance of $25200

Bank Balance of $197800

GRIP Balance of $85000

ERDTOH of $32583

NERDOTH of $10488

What is the maximum amount of money that the corporation can pay to the individual?

Related Book For answer-question

Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

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Posted Date: Sep 16, 2023 01:03 PM

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An individual owns 100% of a corporation. He has a desperate need for cash and wants to

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To determine the maximum amount of money that the corporation can pay to the individual while minimizing the tax consequences we need to consider the ... View the full answer

Advanced Accounting

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