A government university's tuition and fees at the standard rates are $20 million. Scholarship allowances of $1,500,000 are granted to students by the university and tuition waivers for employees granted under the university's tuition waiver policy are $100,000. Uncollectible accounts are expected to equal $150,000. The amount of tuition and fees revenues that the university should report is:

Question

Quizplus · Accepted Answer

The tuition and fees revenue that the university should report is calculated as follows:

Tuition and fees revenue = standard rates - scholarship allowances - tuition waivers + uncollectible accounts

Tuition and fees revenue = $20,000,000 - $1,500,000 - $100,000 + $150,000
Tuition and fees revenue = $18,550,000

Therefore, the amount of tuition and fees revenue that the university should report is $18,550,000, which is closest to option B ($18,350,000).

A Government University's Tuition and Fees at the Standard Rates