JOHN ABBOTT COLLEGE

CMF-W-14
ACCOUNTING III
410-514-AB/71
ASSIGNMENT #4
INSTRUCTOR: STEPHEN D. MARTIN
STUDENT NAME:_________________________________
The Easy Tax Company produes and se!!s a persona! "nome #ax so$#%are pro&ram
#o re#a"! s#ores $or '(). The re#a"! s#ores se!! #he so$#%are #o onsumers $or '*). In
+anuary *,(-. Easy Tax promo#ed #he so$#%are "n O/e Supp!y Mar#0s ad1er#"s"n&
and "n!uded a '2 oupon #ha# onsumers an use #o redue #hen pr"e o$ #he
so$#%are. The oupon has an exp"ry da#e o$ Apr"! 2,. *,(-. S#ores mus# su3m"# a!!
redeemed oupons 3y #he (,
#h
. day o$ #he mon#h $o!!o%"n& #he sa!e. 4ased on pas#
exper"ene. Easy Tax es#"ma#es #ha# ().,,, o$ #hese oupons %"!! 3e redeemed
3e$ore #he exp"ry da#e.
Re5u"red:
a. Reord #he $o!!o%"n& #ransa#"ons $or O/e Supp!y Mar#:
". In #he mon#h o$ +anuary. O/e Supp!y Mar# se!!s (,, so$#%are
pa6a&es $or ash. 7or#y891e us#omers pay #he $u!! pr"e and ))
presen# #he '2 oupon and pa# #he redued pr"e. Assume #ha# a!!
3ranhes o$ O/e Supp!y Mar# use a perpe#ua! "n1en#ory sys#em.
"". On +anuary 2(. O/e Supp!y Mar# sends Easy Tax #he oupons
redeemed #o da#e and re5ues#s a re$und.
""". On 7e3ruary (,. O/e Supp!y Mar# ree"1es #he re$und $rom Easy Tax.
3. Reord #he $o!!o%"n& #ransa#"ons $or Easy Tax:
". The es#"ma#ed oupon !"a3"!"#y "n +anuary.
"". Ree"p# o$ )) oupons presen#ed $or redemp#"on 3y O/e Supp!y Mar# on
+anuary 2(.
""". The paymen# #o O/e Supp!y Mar# on 7e3ruary (, $or #he redeemed
oupons.
. On May (). *,(-. Easy Tax de#erm"nes #ha# a #o#a! o$ ().:), oupons ha1e
3een redeemed. ;ha# en#ry. "$ any. shou!d Easy Tax prepare<