Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
Problem 1: The Happy Toddlers
The Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school-year. Parents can pay the full tuition fee of 70,000 at the start of the school year (June). There is also an option to pay two installments of 37,000 each at the start of every semester (June 1 and November 1). Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31.
Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
Revenue:
Revenues are the income earned by the business through its business operations during a particular accounting period. Examples for revenue can be sales revenue by selling goods, service revenue by providing or rendering services, etc.
Tuition Fee Revenue:
It is a type of revenue earned by schools and colleges for providing the services of teaching to the students for a particular year. They are either received in installments or in full amount lumpsum.
Let us look into the problem and calculate the total tuition fee revenue earned by H Toddlers for the period December 31.
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