Solved: He 20 balance is allocated to interest paid on the mutual, Accounting Basics

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He 20 balance is allocated to interest paid on the mutual

Question - In 2017, George Ryder receives $1,000 of dividends from a diversified mutual fund he has owned for several years. Of the $1,000 in dividends, 80% is allocated to dividends paid to the mutual fund by US Corporations. The 20% balance is allocated to interest paid on the mutual fund's corporate bond holdings. George is in the 35% tax bracket. How much tax will he pay on the $1,000 of dividends?

a. $150

b. $190

c. $200

d. $350

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Accounting Basics: He 20 balance is allocated to interest paid on the mutual

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Accounting Basics: He 20 balance is allocated to interest paid on the mutual

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