Morgan Ltd

question 90

Multiple Choice

Morgan Ltd., a CCPC, had a $25,000 balance in its Refundable Dividend Tax On Hand (RDTOH) account on December 31, 2010, the end of its taxation year.Its refundable por- tion of Part I tax, before any refunds, for the 2011 year is $10,000.It did not receive any dividends in 2011.Morgan Ltd.paid dividends of $15,000 in each of 2010 and 2011.What is the balance in Morgan Ltd.'s RDTOH account at December 31, 2011?

• A)$25,000.
• B)$30,000.
• C)$35,000.
• D)$40,000.

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