1.) Calculate earned revenues Big Blue University has a fiscal year that ends on June 30. The

2010 summer session of the university runs from June 9 through July 28. 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, 2010? Explain your answer.

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? Explain your answer.

2.) Calculate earned revenues Kirkland Theater sells season tickets for six events at a price of $180. In pricing the tickets, the planners assigned the leadoff event a value of $45 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,200 season tickets were sold for the 2010 season.

Required:

a. Calculate the theater