The net increase or decrease in Retained Earnings for a period is recorded by closing entries.

True

Explanation:

The net revenue or net loss would be expressed in the retained earnings account statement.

The computation of the ending retained earning balance is shown below:

The ending balance of retained earning = Opening balance of retained earnings + net income or net loss - cash dividend paid

These are the closing entries which are shown below:

Income summary A/c Dr

To Retained earning

(Being the difference is credited to retained earning)

Retained earnings A/c Dr

To Cash Dividend A/c

(Being dividend account is closed)