A University Schedules Summer School Courses Based on Anticipated Enrollment

question 8

Short Answer

A university schedules summer school courses based on anticipated enrollment.The cost for faculty compensation,laboratories,student services,and allocated overhead for a computer class is $8500.If students pay $920 to enroll in the course,how large would enrollment have to be for the university to break even?

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Definitions:

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, summarizing all transactions over a period.

Cash Receipts Journal

A dedicated accounting journal used to record all cash inflows or receipts of a business.

Purchases Journal

A record of transactions specifically used for tracking all purchases of goods and services on credit.

General Journal

A basic accounting ledger that records all transactions of a business in chronological order, providing a detailed account.