Big Blue University has a fiscal year that ends on June 30. The 2010 summer session of
Question:
Big Blue University has a fiscal year that ends on June 30. The 2010 summer session of the university runs from June 9 through July 28. Total tuition paid by students for the summer session amounted to $112,000.
Required:
a. How much revenue should be reflected in the fiscal year ended June 30, 2010? Explain your answer.
b. Would your answer to part a be any different if the university had a tuition refund policy that no tuition would be refunded after the end of the third week of summer session classes? Explain your answer.
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Step by Step Answer:
a For the year end June 30 2010 recognize 2149 of summer school tuition because that po...View the full answer
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ISBN: 978-0073527062
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Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
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