Frosty Inc. has the following balances on December 31 prior to closing entries:

Revenues $41,000
Retained Earnings, Jan. 1 9,100
Cash 7,700
Expenses 23,900
Accounts Payable 2,300
Dividends 2,500
Supplies 18,300

Based upon the balances above, what would be the effect on retained earnings due to closing entries?

a. Increase of $15,600

b. Increase of $14,600

c .Increase of $17,600

d. Increase of $16,600

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. b. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. c. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. d. the federal reserve bank acts as an insurance company that pays customers if their bank fails. 2b2t

Select the correct answer the smith family adopted a child. the adoption procedure took about three months, and the family incurred various expenses. will the smiths receive and financial benefit for the taxable year? a) they will not receive any financial benefit for adopting the child b) their income tax component will decrease c) they will receive childcare grants d) they will receive a tax credit for the cost borne for adopting the child e) they will receive several tax deductions

In june 2009, at the trough of the great recession, the bureau of labor statistics announced that of all adult americans, 140,196,000 were employed, 14,729,000 were unemployed and 80,729,000 were not in the labor force. use this information to calculate: a. the adult population b. the labor force c. the labor-force participation rate d. the unemployment rate