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Elena L [17]
2 years ago
5

Culver City College, a public college, has a 10-week summer session that starts on June 25, 2020, so that one week is held durin

g FY 2020 and the other nine weeks meet during FY 2021. Tuition and fees in the amount of $1,000,000 were collected from students for classes to be conducted in this session.
Required:
What amount should Culver City College recognize as unrestricted revenue in each of the years ended (FYE) June 30, 2020 and June 30, 2021?
Business
1 answer:
julia-pushkina [17]2 years ago
3 0

Based on the information given, the amount that will be recognized as unrestricted revenue in each of the years will be $100,000 and $900,000.

Unrestricted revenue simply means the donations that can be used by a company or group for purposes that meet the goals that were set aside.

From the information, the unrestricted revenue in June 30, 2020 will be:

= 10% × $1,000,000

= $100,000

The unrestricted revenue for June 30, 2021 will be:

= $1,000,000 - $100,000

= $900,000

Learn more about revenue on:

brainly.com/question/16232387

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Explanation:

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I hope my answer helps you.

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Answer:

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Explanation:

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The answer to this question is given below in the explanation section.

Explanation:

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First, we explore registering a business, and then we will explore registering a website.

Registering a business:

In any economy or any country, if you are making any type of business and it is legally approved by that government, then it is your moral duty to register the business because government collect taxes from registered business and give benefit in return to those whose business is registered.

To register a business, it requires you to register your business with company registration institution. The business that has registration considered authentic and legally proved business and everyone can trust these businesses while dealing. Government gives incentives and benefits to registered business and solve their issues if they have any, for example, to do import and export, the government facilitate you in this regard.

Registering a business website:

Registering a business website is like to make your online existence that everyone globally approaches you. Registering a business and registering a website, both are different things. Registering a business website, or getting a domain for your site, does not count as registering it. The procedures for registering a business in any country is different than registering or getting a domain name for your website. for example, if I am in Pakistan, and I want to register my website, it might chances that I will register it on Microsoft cloud or google cloud. This registration does not contribute and give benefit to Pakistan in the collection of tax. And the government does not give me incentive as likes others who have registered their business with registration body.

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