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Question - Opus Limited is a Canadian controlled private corporation. During 2017, the company received the following dividends:
Dividends on Portfolio Investments $35,000
Dividends from Magnum Inc. [(100%)($55,000)] 55,000
Dividends from Masterpiece Ltd. [(40%)($100,000)] 40,000
Opus owns 100% of the shares of Magnum Inc. and 40% of the shares of Masterpiece Ltd. Masterpiece received a dividend refund of $10,000 on its dividend payment, while Magnum received a dividend refund of $15,000. Determine the amount of Part IV Tax payable by Opus Limited for the current year.
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Hilltop sells its rock climbing shoes worldwide. Prepare the sales budget for January and February. Show all work
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