To report your child's income on your return, simply follow these instructions and we'll apply the Kiddie Tax calculations. Related Information: What is the Kiddie Tax?
T Accounts The simplest account structure is shaped like the letter T. The account title and account number appear above the T. Debits (abbreviated Dr.) always go on the left side of the T, and credits (abbreviated Cr.) always go on the right.
Hence the balance sheet must also be in balance. We will use the accounting equation to explain why we sometimes debit an account and at other times we credit an account. Assets are on the left side of the accounting equation. Asset account balances should be on the left side of the accounts.ence the balance sheet must also be in balance. We will use the accounting equation to explain why we sometimes debit an account and at other times we credit an account. Assets are on the left side of the accounting equation. Asset account balances should be on the left side of the accounts.