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Subjects>Law & Government>United States Government

How do you calculate earnings credit?

Anonymous

∙ 16y ago

Updated: 8/19/2023

You get the earned income credit if you are 25 years of age, your income is under $52,000.00 and you are not claimed as a dependent on another persons income tax return. You may also get the earned income credit based on qualifying dependents.

Wiki User

∙ 11y ago

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Related Questions

How do you calculate projected earnings?

Projected earnings are impossible to calculate

Can you debit asset and credit Retained earnings?

Assets are increased with a debit and decreased by a credit. Retained earnings is a credit, as they are an owners equity account and increase with credit.Retained earnings is what a company has after all expenses and dividends (if applicable) are paid. Retained earnings is shown on the Statement of Retained Earnings and is a credit which increases OE.

What is earnings credit term?

Earnings Credit is a type of credit offered by the financial institution to its customers, based on the average balance maintained in their accounts. Earnings Credit is a Soft Dollar Credit and is used to offset various charges in an invoice. Earnings Credit is never offered directly to the customer, but is always adjusted against the customer's charges.

Is retained earnings a normal debit or credit balance?

The retained earnings account usually carries a credit balance.

Is unappropriated retained earnings credit?

Yes, since this account (Retained Earnings) is a credit account and an uppropriate retained earnings account is simply a non-restricted account which is Retained Earnings !!! Even the restricted/ appropriate retained earnings are credited.

Does the retain earnings account have a debit or credit balance?

credit

What is the normal balance of retained earnings?

normal balance of retained earnings: credit.

Are retained earnings debit or credit?

purchase a/c

What is the formula for equity method?

dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET

Is Retained earnings in a profitable company a debit or a credit?

debit

Can you debit account payable and credit retained earnings?

yes

Retained earnings debit or credit?

Retained earnings are the profit of previous fiscal years and liability of business to return back to it's owner so it has a credit balance as of all liability accounts.

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