Torres Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Torres Company received on March 18. March 8Sold goods costing $8,400 to Howard Company on account, $14,000, terms 4/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $490.
March 14 Howard Company returned undamaged merchandise previously purchased on account, $2,800.
March 18 Received the amount due from Howard Company.

Partnerships are the most common type of business firms in the world. t/f

A.j. was a newly hired attorney for idle time gaming, inc. even though he reported directly to the president of the company, a.j. noticed that the president always had time to converse with the director of sales, calling on him to get a pulse on legal/regulatory issues that, as the company attorney, a.j. could have probably handled. a.j. also noted that the hr manager’s administrative assistant was the go-to person for a number of things that would make life easier at work. a.j. was recognizing the culture at idle time gaming.

The stock of grommet corporation, a u.s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u.s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u.s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u.s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?