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

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

answer; ///blank(1) longer; blank(2); lessi believe this is correct, plz check first; good luck';