At September 1, 2022, Baxter Inc

question 147

Multiple Choice

At September 1, 2022, 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, 2022?

• A)$423,000 debit
• B)$24,000 credit
• C)$426,000 credit
• D)$441,000 credit

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Definitions:

Importer or Exporter

An importer or exporter refers to a company or individual engaged in the international trading of goods and services, bringing products into or sending products out of a country.

World Price

Global pricing for goods or services, influenced by the interplay of supply and demand on an international scale.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the production and consumption of goods and services.

Exports

Items or services manufactured in one nation and marketed to purchasers in another.