ACC 561 (ACC561)

ACC 561 FINAL EXAM 3 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 $441,000 credit 2. The investigation of materials price variance usually begins in the Purchasing department 3. Scorpion Production Company planned to use 1 yard of plastic per unit b...