Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school year. Operations started on June 1. Parents can pay the full tuition fee of P70,000 each at the start of the every semester (June 1 and November 1.) Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31.
Required:
Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
![Part 1: Starting the business
The Happy Toddlers is a preparatory school for children three to five years old.
Students are enrolled for a school year. Operations started on June 1. Parents can pay
the full tuition fee of P70,000 each at the start of the every semester (June 1 and
November 1.) Of the 150 students enrolled, 80 are paid in full at the start of the year.
The remaining students are on installment basis. One school year runs from June 1 to
March 31.
Required:
Determine the tuition fee revenue for the period December 31. This is the first year of
Happy Toddlers operations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa543ff48-5f1a-485d-a21b-93941600163c%2Feaa9534c-17f8-46a2-969c-c38f257073e0%2Fv9d6hua_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Part 1: Starting the business
The Happy Toddlers is a preparatory school for children three to five years old.
Students are enrolled for a school year. Operations started on June 1. Parents can pay
the full tuition fee of P70,000 each at the start of the every semester (June 1 and
November 1.) Of the 150 students enrolled, 80 are paid in full at the start of the year.
The remaining students are on installment basis. One school year runs from June 1 to
March 31.
Required:
Determine the tuition fee revenue for the period December 31. This is the first year of
Happy Toddlers operations.
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