Financial Accounting Revenues Multiple Choice Question Homework Help
- November 24, 2017
- Posted by:
- Category: Accounting QA
Best UK USA UAE Australia Canada China Financial Accounting Revenues Multiple Choice Question Homework Help Service Online
1. In June 2017, a public university bills and collects $30 million in tuition for the summer semester that runs from June 1 through July 15. In addition, in May and June it bills $200 million for the fall semester that runs from September 1 through December 15. Of this amount it collects only $80 million (expecting to collect the balance prior to September 1). In its statement of revenues and expenses for its year ending June 30, 2017 it should recognize as tuition revenue
1. $20 million
2. $30 million
3. $100 million
4. $110 million
2. In a particular year, a not-for-profit university receives $2 million in dividends and interest on an endowment, the income of which, per donor specification, must be used to provide scholarships to liberal arts students. During the year, it awards (and pays) scholarships of $1.9 million. In accord with a policy established by the university’s board of trustees, it adds the $0.1 million balance to the endowment fund to offset the impact of inflation. For that year the university may recognize
1. $1.9 million of unrestricted revenue and $0.1 million of permanently restricted revenue
2. $1.9 million of unrestricted revenue and $0.1 million of temporarily restricted revenue
3. $1.9 million of temporarily restricted revenue and $0.1 of permanently restricted revenue
4. $2.0 million of permanently restricted revenue
3. A not-for-profit university operates its college bookstore as an auxiliary enterprise. During the year the store has revenues of $20 million and expenses of $18 million. In its statement of activities the university should report
1. operating revenues of $2 million
2. operating revenues of $20 million
3. nonoperating revenues of $2 million
4. nonoperating revenues of $20 million
4. In 2017, a government university was awarded a federal reimbursement grant of $9 million to carry out research. Of this, $6 million was intended to cover direct costs and $3 million to cover overhead. In a particular year, the university incurred $2 million in allowable direct costs and received $1.7 million from the federal government. It expected to incur the remaining costs and collect the remaining balance in 2018. For 2017 it should recognize revenues from the grant of
1. $1.7 million
2. $2.0 million
3. $3.0 million
4. $9.0 million
5. A not-for-profit university maintained an endowment of $400,000, the income of which was restricted for an annual conference on international relations. In a particular year, the market value of the endowment increased by $40,000. The university held a conference on international relations at a cost of $43,000. The university should report
1. no revenue and unrestricted expenses of $43,000
2. unrestricted revenues of $40,000 and unrestricted expenses of $43,000
3. temporarily restricted revenues of $40,000, temporarily restricted expenses of $40,000 and unrestricted expenses of $3,000
4. permanently restricted revenues of $40,000 and unrestricted expenses of $43,000
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to besthomewrokhelpers@gmail.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email besthomeworkhelpers@gmail.com should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to besthomeworkhelpers@gmail.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
Our Clients
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
Related Services
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
6. Other factors held constant, which of the following colleges is likely to present the least risk that it will default on its bonds
1. one that admits 98 percent of applicants
2. one that draws the majority of its students from overseas
3. one that prepares its students mainly for careers as automotive engineers
4. one which draws its student body almost exclusively from the top 5 percent of high school graduating classes throughout the country
7. Scholarships for which no services are recorded should be recorded as ______________ and scholarships for which services are required should be recorded as ____________
1. revenue deductions; expenses
2. expenses; revenue deductions
3. expenses; expenses
4. revenue deductions; revenue deductions
8. A public university had tuition and fees for the year ended June 30, 2017, in the amount of $18,000,000. Scholarships, for which no services were required, amounted to $1,400,000. Graduate assistantships, for which services were required, amounted to $1,300,000. The amount to be reported by the university as net tuition and fee revenue would be
1. $18,000,000
2. $16,700,000
3. $16,600,000
4. $15,300,000
9. During the year, Griffin University’s board of trustees established a $200,000 fund to be retained and invested for scholarship grants. The fund earned $12,000, which had not been distributed by December 31. What amount should Griffin report in a Board designated (quasi) endowment fund’s net assets at December 31?
1. $0
2. $12,000
3. $200,000
4. $212,000
10. During the year, LeBlanc College received the following:
• An unrestricted $70,000 pledge to be paid the following year
• A $35,000 cash gift restricted for study-abroad scholarships
• A notice from a recent business school graduate that he has named the college as a beneficiary of $15,000 in his will
What amount of contribution revenue should LeBlanc College report in its statement of activities?
1. $35,000
2. $50,000
3. $105,000
4. $120,000
Product Code: ACC780
Looking for Financial Accounting Revenues Multiple Choice Question Homework Help, please submit your details here with product code mentioned above.