Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group. In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded. To explain :how is tuition scholarships reported by private colleges and universities.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Could you explain the steps for solving this financial accounting question accurately?

I am searching for the accurate solution to this general accounting problem with the right approach.

A company acquires equipment, which has an estimated useful life of 8 years and no salvage value, for $48,000 at the beginning of the accounting period. What is the adjusting entry for depreciation at the end of one month if the company uses the straight-line method of depreciation?

Answer 2

Question

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Answer 6

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Answer 7

Chapter 19, Problem 19.1Q

To determine

Accounting for expenses: all the expenses are recognized on accrual basis in private universities and colleges. Expenses can be grouped under two groups as educational and general expenses group and auxiliary expenses group.

In educational expenses group expenses for instruction of courses, research, supplies, academic support, student service and student aid expenses such as scholarships fellowships tuition remissions and student grants are recorded.

To explain:how is tuition scholarships reported by private colleges and universities.

Answer 8

Expert Solution & Answer

Answer to Problem 19.1Q

Tuition scholarships are included in revenue for the period in order to measure full revenue, if university requires employment type work for tuition scholarships, then they are also shown in expenses and it is also recorded as revenue reduction item when no employment type work is required.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

The above answer can be explained as, tuition is a major source of revenue for the private universities and colleges hence tuition scholarships are also shown in revenue to determine total revenue and later expensed out based on amount paid when university require employment type work is required for receipt it is shown in expenses.

Answer 12

Ch. 19 - Prob. 19.1Q Ch. 19 - Prob. 19.2Q Ch. 19 - Prob. 19.3Q Ch. 19 - Prob. 19.4Q Ch. 19 - Prob. 19.5Q Ch. 19 - Prob. 19.6Q Ch. 19 - Prob. 19.7Q Ch. 19 - Prob. 19.8Q Ch. 19 - Prob. 19.9Q Ch. 19 - Prob. 19.10Q

Concept explainers

Answer to Problem 19.1Q

Explanation of Solution

Want to see more full solutions like this?

Chapter 19 Solutions