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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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On January 1, a machine with a useful life of five years and a residual value of $80,000 was purchased for $240,000. What is the
Alex17521 [72]

Answer:

$57,600

Explanation:

The computation of the depreciation expense under the Double-declining balance method is shown below:

First we have to find the depreciation rate which is shown below:

= 1 ÷ useful life

= 1 ÷ 5 years

= 20%

Now the rate is double So, 40%

In year 1, the original cost is $240,000, so the depreciation is $96,000 after applying the 40% depreciation rate

And, in year 2, the $144,000 × 40% = $57,600

The $144,000 is come from

= $240,000 - $96,000

= $144,000

3 0
3 years ago
Neil, a digital painter at an animation company, is given a monthly target of 15 projects. He completes 10 or 20 projects a mont
Ratling [72]

Answer:

The correct answer is C) A variable ratio reinforcement schedule .

Explanation:

In this case, Neil must use an effort program of variable reason, considering that if he wants to create an operant behavior in a subject, he can administer the reinforcing stimulus only when the subject performs a certain number of times the behavior in question, for example every three times ; In this case, there is a fixed ratio reinforcement program. If instead you prefer to administer the booster when the subject performs a variable number of behaviors (for example, sometimes every three behaviors, sometimes every two, sometimes every four), you will have a variable ratio booster program.

5 0
4 years ago
Read 2 more answers
Garda purchased $610,000 of merchandise in August and expects to purchase $730,000 in September. Merchandise purchases are paid
Basile [38]

Answer: $646,000

Explanation:

Cash payment for the month of September

August pmt = $610,000x 70%= $427,000

September pmt = $730,000 x 30%= $219,000

Total payment in September = $427,000 + $219,000 = $646,000

8 0
3 years ago
ritchett Co. reported the following year-end data: Cash $ 15,000 Short-term investments $ 5,000 Accounts receivable (current) $
ratelena [41]

Answer:

a.

The current ratio is 2.7

b.

The acid-test ratio is 1.7

Explanation:

a)

The current ratio is a ratio to measure the liquidity of a firm. The current ratio calculates the amount of current assets per every $1 of current liability.

Current ratio = Current assets / Current Liabilities

Current ratio = (15000 + 5000 + 8000 + 20000 + 6000) / 20000

Current ratio = 2.7 or 2.7 : 1

b)

The acid test ratio is also a measure of liquidity that only takes into account the most liquid asset in calculation of the ratio and it excludes the inventory in the calculation.

Acid test ratio = (Current assets - Inventory) / Current liabilities

Acid test ratio = (15000 + 5000 + 8000 + 6000) / 20000

Acid test ratio = 1.7 or 1.7 : 1

6 0
4 years ago
There are more than 20 stores on the same street that specialize in selling the same quality and brand of wheat products. An ind
Umnica [9.8K]

Answer:

Pure competition

Explanation:

  • Pure competition is a market structure in which many competitors sell many similar products. Due to high competition, market prices will fall. Pure competition is also called full competition. Other characteristics of pure competition.
  • There are many buyers and many sellers for market information
  • There are no entry and exit barriers in the market
  • Companies sell homogeneous products
  • Firms cannot affect market value. Companies are price takers.
  • Production units are identical and operate independently.

3 0
3 years ago
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