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xercise Igo) alculate earned revenues g Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June rough July 26. Total tuition paid by students for the summer session amounted to $112,000. equired: How much revenue should be reflected in the fiscal year ended June 30, 2019? Answer is complete but not entirely correct. $ 112,000 Amount of revenue

xercise Igo) alculate earned revenues g Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June rough July 26. Total tuition paid by students for the summer session amounted to $112,000. equired: How much revenue should be reflected in the fiscal year ended June 30, 2019? Answer is complete but not entirely correct. $ 112,000 Amount of revenue

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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? Answer is complete but not entirely correct. Amount of revenue $ 112,000 8 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? O Yes No
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? Answer is complete but not entirely correct. Amount of revenue $ 112,000 8 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? O Yes No
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