Posted: March 3rd, 2017

A public college had tuition and fees for the year ended June 30th, 2007, in the amount of $45,000,000. Scholarships, for which no services were required, amounted to $2,500,000. Graduate assistantships, for which services were required, amounted to $2,300,000.

A public college had tuition and fees for the year ended June 30th, 2007, in the amount of $45,000,000. Scholarships, for which no services were required, amounted to $2,500,000. Graduate assistantships, for which services were required, amounted to $2,300,000. First, compute the amount to be reported by the college for net tuition and fee revenue. Second, state the source of the rule that you relied on to make the computations. Third, on what statement would the net tuition be reported?

$45,000 – $2,500 = $42,500 as amount reported for net tuition & fee revenue.

4. Briefly, what is meant by a worksheet approach to a conversion and what is meant by a dual-track approach to recording the data?

5. How can a worksheet approach be used to convert the fund statements to government-wide statements?