Why are revenues presented on the nancial statements net of scholarships and discounts?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (14 reviews)
NACUBO indicates that colleges and universities should show tuition and ...View the full answer
Answered By
Ajay Negi
Hi, I've completed my degree in engineering (Information Technology) from an NIT. Currently working as a software engineer. Wish to impart quality education to the future generation.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
Question Posted:
Students also viewed these Accounting questions
-
If the closing balance of receivables is less than the opening balance for a month then which one is true out of A Collections > Current Purchases B Collections > Current Sales C D Collections...
-
Why are some scholarships reported as revenue deductions and others as expenses?
-
The paid-up capital of Mukund Ltd. is Rs 18,00,000. The company decided to propose a dividend of Rs 2, 16, 000 out of current profit. How much of current profit is to be transferred to reserve?
-
Administrative agencies, boards or commissions usually use registration or licensing to control business subject to the administrative law. True False
-
When initializing a global variable in a multithreaded program, a common programming error is to allow a race condition where the variable can be initialized twice. Why could this be a problem?...
-
Johnson Electronics sells electrical and electronic components through catalogs. Catalogs are printed once every two years. Each printing run incurs a fixed cost of $ 25,000, with a variable...
-
\(C_{V}\) for an ideal gas (a) Is independent of temperature only (b) Is independent of pressure only (c) Is independent of volume only (d) Is independent of both pressure and volume.
-
Hartford Research issues bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds have a $ 40,000 par value and an annual contract rate of 10%, and they...
-
The Gemini Corporation was operating its business as per the following working capital cycle days: Scenario A Average age of inventory - 40 days Average collection period - 60 days Average payment...
-
R.D. Snee (Experimenting with a Large Number of Variables, in Experiments in Industry: Design, Analysis and Interpretation of Results, by R.D. Snee, LB. Hare, and J.B. Trout, eds., ASQC, 1985)...
-
In what signicant ways would each of the three major statements of a public university differ from those of a private university?
-
What are auxiliary enterprises? How are they accounted for?
-
How is the graph of obtained from the graph of f(x) = 1 x + 5 - 3
-
Consider two cash flow diagrams below of pizza delivery truck options (Truck A and Truck B) that a local restaurant is considering to purchase. The economic lives of these trucks are 5 and 4 years...
-
Given the following information for the two stocks: Stock Investment Beta A $30,000 1.2 B $20,000 0.8 Assume the risk-free rate is 3 percent and the market risk premium is 9%. A portfolio is...
-
Suppose you read in The Wall Street Journal that a $1,000 par value, 8 year, 6%, semi-annual bond is trading at $984. If your required rate of return is 6%, what would be the bond's current yield?...
-
Suppose a bank pays a quoted annual (simple) interest rate of 9%. However, it pays interest (compounds) daily using a 365-day year. What is the effective annual rate of return (EAR)?(Round the answer...
-
Suppose back in 2000, the average ticket price of the Houston Symphony was $66.9 years later, the average ticket price increased to $81. What was the growth rate of the average ticket price over the...
-
If you want to earn an annual rate of 10% on your investments, how much (to the nearest cent) should you pay for a note that will be worth $5,000 in 9 months?
-
In order to get an idea on current buying trends, a real estate agent collects data on 10 recent house sales in the area. Specifically, she notes the number of bedrooms in each house as follows: a....
-
Costa Ricas currency is the colon (CRC) and Chiles currency is the peso (CLP). Costa Ricas tax rate is 30 percent. Chiles tax rate is 20 percent. If pretax returns in Chile are 7 percent, how much...
-
Sage Learning Centers was established on January 20, 2010, to provide educational services. The services provided during the remainder of the month are as follows: Jan. 21. Issued Invoice No. 1 to J....
-
Transactions related to revenue and cash receipts completed by Bel-Aire Architects Co. during the period September 230, 2010, are as follows: Sept. 2. Issued Invoice No. 793 to Morton Co., $5,200. 5....
-
Green Thumb Landscaping designs and installs landscaping. The landscape designers and office staff use office supplies, while field supplies (rock, bark, etc.) are used in the actual landscaping....
-
Bailey Delivery Company, Incorporated, was organized in 2021 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 17,000 shares of stock...
-
Write a program (C++) that prompts the user to input an integer and then outputs both the individual digits of the number and the sum of the digits. Example: Input: 3456 Output: 3 4 5 6 Sum of digits...
-
The soil profile at a site consists of 1.5 m of sand underlain by a 6 m thick clay layer. The water table coincides with the top of the sand layer. The saturated unit weight (Ysat) of the sand and...
Study smarter with the SolutionInn App