A non-profit university assessed its students P2,000,000 in tuitions and fees for the semester. Compute for the net revenues from tuitions and fees given the following additional information:
A non-profit university assessed its students P2,000,000 in tuitions and fees for the semester. Compute for the net revenues from tuitions and fees given the following additional information:
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 8DQ
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A non-profit university assessed its students P2,000,000 in tuitions and fees for the semester. Compute for the net revenues from tuitions and fees given the following additional information:
| Scholarships granted to academic scholars | 100,000 |
| Scholarships granted to faculty members in post-graduate programs | 60,000 |
| Refunds of class cancellations and withdrawal of enrolment | 40,000 |
| Estimated uncollectible amounts | 160,000 |
| Scholarships granted to student assistants | 240,000 |
| Scholarships granted to dependents of faculty members | 120,000 |
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