ACC561 Final Exam 2018
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ACC561 Final Exam 2018 ACC561 Final Exam 20 1
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1. At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017?
a.$423,000 debit
b.$24,000 credit
c.$426,000 credit
d.$441,000 credit
2. The investigation of materials price variance usually begins in the
a. first production department. 
b. purchasing department. 
c. control...
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1. At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017?
a.$423,000 debit
b.$24,000 credit
c.$426,000 credit
d.$441,000 credit
2. The investigation of materials price variance usually begins in the
a. first production department. 
b. purchasing department. 
c. control...