For the Year Ended June 30,20X9,a University Assessed Its Students

question 120

Multiple Choice

For the year ended June 30,20X9,a university assessed its students a total of $4,000,000 for tuition and fees.Included in this amount was $300,000 of tuition remissions awarded to graduate teaching assistants,and $150,000 of scholarships awarded to undergraduate students.Tuition and fees totaling $3,550,000 were collected during the year ended June 30,20X9.What amount should be reported in the unrestricted fund as net revenue from tuition and fees for the year ended June 30,20X9?

• A) $4,000,000
• B) $3,550,000
• C) $3,700,000
• D) $3,850,000

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