How do i calculate retained earnings after adjustments

Question

How do i calculate retained earnings after adjustments

Answer 1

The only adjustment you are going to have to Retained Earnings is Dividends Paid.

Answer 2

Close off your Income Summary account to Retained earnings. That will add the profit to retained earnings. Next, close off the dividend account to retained earnings. That will decrease the retained earnings. The net figure for retained earnings after this is the amount you carry forward to next year's beginning balance.