Exercise 9-5 (Algo) Calculate earned revenues LO 1 Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 7 through July 26. 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, 2019? 8 Answer is complete but not entirely correct. Amount of revenue $ 52,571 X 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? Yes O No O
Exercise 9-5 (Algo) Calculate earned revenues LO 1 Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 7 through July 26. 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, 2019? 8 Answer is complete but not entirely correct. Amount of revenue $ 52,571 X 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? Yes O No O
Chapter13: Tax Credits And Payment Procedures
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Problem 25P: LO.2 Oak Corporation has the following general business credit carryovers. If the general business...
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![Exercise 9-5 (Algo) Calculate earned revenues LO 1
Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 7
through July 26. 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, 2019?
X Answer is complete but not entirely correct.
Amount of revenue
52,571 X
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?
Yes
O No O](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4a11e060-92c7-4c99-b32c-8bbf9de3d4ca%2F72575209-9dea-4354-a602-42b747ab2023%2F4jf8b1e_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 9-5 (Algo) Calculate earned revenues LO 1
Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 7
through July 26. 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, 2019?
X Answer is complete but not entirely correct.
Amount of revenue
52,571 X
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?
Yes
O No O
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