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Elaine Ltd. is a Canadian-controlled private corporation. Its refundable dividend tax on hand

(RDTOH) account at December 31, 2018 was $ Nil. For its 2019 taxation year the following

transactions occurred:


a)    The corporation received non-eligible Canadian taxable dividends of $60,000.

b)    The corporation received Canadian interest income of $ 40,000

c)    The company received eligible Canadian taxable dividends of $ 30,000

d)     The company paid taxable non-eligible dividends of $ 75,000


Required: (show all calculations)


a)- Calculate the balances of the Elaine Ltd.'s eligible and non-eligible RDTOH accounts at its yearend date of  December 31, 2019.


b)- Calculate the 2019 dividend refunds for Elaine Ltd.

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