Revenue income for a university: Tuition fees received from the students is the revenue for a university. Any scholarship granted to the students should not be part of revenue for a university. But same is not with tuition remissions. Anu tuition remissions should be first included in revenue income of a university then it is treated as an expenditure in the year in which tuition is remitted. : Revenue from student’s tuition fees for P University.

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Chapter 19, Problem 19.1.1E

To determine

Concept Introduction:

Revenue income for a university:

Tuition fees received from the students is the revenue for a university. Any scholarship granted to the students should not be part of revenue for a university. But same is not with tuition remissions. Anu tuition remissions should be first included in revenue income of a university then it is treated as an expenditure in the year in which tuition is remitted.

:

Revenue from student’s tuition fees for P University.

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For the 2019 fall semester, Forest Public University assessed its students $6,000,000 (net of refunds), covering tuition and fees for educational and general purposes. However, only $5,700,000 was expected to be realized because tuition remissions of $80,000 were allowed to faculty members’ children attending Forest, and scholarships totaling $220,000 were granted to students. What amount should Forest include in educational and general current funds revenues from student tuition and fees?a. $5,920,000b. $6,000,000c. $5,780,000d. $5,700,000

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