Southeastern State University Has Chosen to Report as a Public

question 82

Essay

Southeastern State University has chosen to report as a public university reporting as a special-purpose entity engaged only in business-type activities. Deferred Revenues were reported as of July 1,2014 in the amount of $5,000,000. Record the following transactions related to revenue recognition for the year ended June 30,2015. Include in the account titles the proper revenue classification (operating revenues,nonoperating revenues,etc.):

---

Definitions:

Resting Potential

The state of a neuron when it is not active, characterized by a balance of ions producing a negative charge inside the cell.

Axon

A long, slender projection of a nerve cell, or neuron, which conducts electrical impulses away from the neuron's cell body.

Electrical Charge

A fundamental property of matter that causes it to experience a force when placed in an electromagnetic field, which can be positive or negative.

Peripheral Nervous System

A part of the nervous system that consists of nerves and ganglia outside of the brain and spinal cord, responsible for connecting the CNS to limbs and organs.