Question
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
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 9 through July 27. Total tuition paid by students for the summer session amounted to $130,000. Required: a. How much revenue should be reflected in the fiscal year ended June 30, 2019?
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?
multiple choice
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Yes
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No
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