The adjusted ledger accounts of RD Consulting on December 31,2016,appear as follows.All accounts have normal balances and adjusting entries have been made.Extend the balances to the Balance Sheet and Income Statement columns of the worksheet.Then,journalize the closing entries on page 4 of a general journal. 
Definitions:
Marginal Returns
The additional output that is produced as a result of increasing one more unit of an input while holding other inputs constant.
Marginal Cost
The additional cost incurred from the production of one more unit of a product or service.
Total Cost
The complete cost of production that includes both fixed and variable costs.
Opportunity Cost
The best alternative that we forgo, or give up, when we make a choice or a decision.
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