On June 10, Marigold Company purchased $8,150 of merchandise on account from Grouper Company, FOB shipping point. terms 3/10/30. Marigold pays the freight costs of $420 on June 11. Goods totaling $650 are returned to Grouper for credit on June 12. On June 19, Marigold pays Grouper Company in full, less the discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction for Grouper Company. The merchandise purchased by Marigold on June 10 cost Grouper $4,700, and the goods returned cost Grouper $265. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry": amounts. Record journal entries in the order presented in the problem.) the account titles and enter O for the Account Titles and Explanation Daje # (To record credit sale) (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned) Debit Credit

E9.7(a,b2)

Question 3: When is an employer NOT required to file a quarterly Form 941? Answer: А. O When annual tax liability for federal income, Social Security, and Medicare tax is less than $1,000 В. O When annual tax liability for federal income, Social Security, and Medicare tax is less than $1,500 С. O When annual tax liability for federal income, Social Security, and Medicare tax is less than $2,500 D. When annual tax liability for federal income, Social Security, and Medicare tax is less than $100,000

Prior (Past) service cost is expensed immediately using a. U.S. GAAP. b. IFRS. c. Both U.S. GAAP and IFRS. d. Neither U.S. GAAP nor IFRS.