Author Question: A(n) ____________________ is a separate record used to summarize changes in assets, liabilities, and ... (Read 63 times)

jjjetplane · **on:** Jul 5, 2018

A(n) ___________________ _ is a separate record used to summarize changes in assets, liabilities, and owner's equity of a business.
Fill in the blank(s) with correct word

Question 2

A college has a June 30 fiscal year end. Assume that tuition revenue for the summer session that begins June 1, 20X8, and ends August 31, 20X8 totals 270,000 . Tuition is billed and is due at the beginning of the session term.

How much revenue should be reported as of the fiscal year ended June 30, 20X8?
A. 270,000.
B. 180,000.
C. 135,000.
D. 90,000.