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Ben,age 67,and Karla,age 58,have two children who live with them and for whom they provide total support.Their daughter is 21 years old,blind,is not a full-time student and has no income.Her twin brother is 21 years old,has good sight,is a full-time student and has income of $4,800.Which of the following statements is correct regarding Ben and Karla's ability to claim the twins as dependents?
General Journal
A general journal is a fundamental accounting record where all day-to-day financial transactions of a business are initially recorded.
Ledger Accounts
Financial records within a ledger that summarize the transactions related to a company's assets, liabilities, equity, revenues, and expenses.
Trial Balance
A financial spreadsheet where the totals from all accounts are gathered into columns for debits and credits, serving to verify the mathematical accuracy of a firm's accounting records.
Balance Sheet
A financial statement that presents a company's financial position at a specific point in time, including assets, liabilities, and equity.
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