You Asked. Splitting income between you and your spouse or common-law partner may help reduce taxes, the claw back of your Old Age Security or increase the age amount you can claim.The government allows you to split your Canada Pension Plan retirement benefits with your spouse or common-law partner.e've got the answer. Splitting income between you and your spouse or common-law partner may help reduce taxes, the claw back of your Old Age Security or increase the age amount you can claim.
The creditÂ­ default swap was a zero-sum game. If Mike Burry made $100 million when the subprime mortgage bonds he had handpicked defaulted, someone else must have lost $100 million.
[Debit]. Retained earnings = $30,000 [Credit]. Furniture = $30,000 . Case Example-2 [Expenses were not Accrued] At the end of 2010 a company failed to accrue telephone expense that was paid at the beginning of 2011. The correcting entry on 12/31/2011 is: [Debit]. Retained earnings = $16,000 [Credit]. Telephone expense = $16,000 . Case Example-3 [Revenue was not Deferred] On 1/1/2010 an advance retainer fee of $50,000 was received covering a five-year period. In error, revenue was credited for the full amount. The error was discovered on 12/31/2012 before closing the books. The correcting entry is: 12/31/2012 [Debit]. Retained earnings = $30,000 [Credit].