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.
Credits are entered on the left side of the T; debits, on the right. False: A credit to an account always increases it; a debit to an account always decreases it. False: An asset account appears on the right side of the accounting equation and is also increased on the right side of its T account. False: A business groups its account in a ledger. True: A business transaction can affect two accounts on the same side of the accounting equation and still leave the equation in balance. True