Charges for Tuition for the Current Semester of a Local

question 2

Multiple Choice

Charges for tuition for the current semester of a local college totaled $300,000. Academic scholarships were awarded to students in the amount of $25,000 and tuition waivers were given to children of employees in the amount of $10,000. The college should report

• A) Revenues of $265,000 and Expenses of $35,000
• B) Revenues of $275,000 and $10,000 in Expenses.
• C) Revenues of $290,000 and $25,000 in Expenses.
• D) Revenues of $300,000 and Expenses of $35,000.

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