Final answer:
Corporations use the T-account form to reconcile retained earnings at the beginning and end of the year by recording opening balances, adjustments, and calculating closing balances.
Step-by-step explanation:
Corporations use the T-account form to reconcile retained earnings at the beginning and end of the year. A T-account is a balance sheet with a two-column format, where the T-shape is formed by a vertical line down the middle and a horizontal line under the column headings for "Assets" and "Liabilities".
In the T-account, the retained earnings account is part of the equity section. At the beginning of the year, the opening balance of the retained earnings is recorded. Throughout the year, any adjustments or changes to the retained earnings account are also recorded. At the end of the year, the closing balance of the retained earnings is calculated by adding or subtracting net income/loss and dividends to/from the opening balance.