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76) ABC had the following net income (loss) the first three years of operation: $7,100,($1,600), and $3,600. If the Retained Earnings balance at the end

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76) ABC had the following net income (loss) the first three years of operation: $7,100,($1,600), and $3,600. If the Retained Earnings balance at the end of year three is $1,100, what was the total amount of dividends paid over these three years? A) $8,000. B) $500. C) $0. D) $9,100. 77) In a Big Bath, a firm A) increases revenue C) does window dressing B) changes accounting firms D) increases Expenses 78) Which of the following are made when the business does something A) Closing Entries B) Adjusting Entries C) Transaction Entries 79) For a joumal entry with only two lines, the following entry is valid: Decrease in an asset, Decrease in a liability. A) True B) False 80) For a joumal entry with only two lines, the following entry is valid: Increase in an asset, Decrease in an Expense. A) False B) True

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