Frosty Inc. has the following balances on December 31 prior to closing entries: Revenues $ 35,000 Retained Earnings, Jan. 1 10,000 Cash 7,000 Expenses 23,000 Accounts Payable 4,000 Dividends 1,000 Supplies 18,000 Based upon the balances above, what net adjustment would be made to Retained Earnings due to closing entries?

$11,000 increase

Explanation:

The net adjustment made to retained earning account is shown below:

= Revenue earned - expenses incurred - dividend paid

= $35,000 - $23,000 - $1,000

= $11,000 increase

At the time of closing entries, we closed the revenues, expenses, and the dividend account and the net adjustment is made to the retained earning account

so i don't know what video you're talking about, but here's some stuff steve jobs gave as advice.

- love what you do.

- the worst thing that could happen might turn out to be the best thing that could happen.

- follow your heart and trust it knows where it's going.