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How much revenue should be reflected in the fiscal year

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Big Blue University has a fiscal year that ends on June 30. The 2010 summer session of the university runs from June 9 through July 28. Total tuition paid by students for the summer session amounted to $112,000.

How much revenue should be reflected in the fiscal year ended June 30, 2010?

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Procedure and reason given.

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You need to split this between the two fiscal years:

June 9 - June 30 = Fiscal year ended June 30
July 1 ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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