What statement would the numbers be reflected on

Reference no: EM13134462

Suppose the following for a public college or university. It had tuition and fees for the year ended June 30, 2007 in the amount of $50,000,000. Scholarships, for which no services were required, amounted to $2,500,000. Graduate assistantships, for which services were required, amounted to $2,300,000. The amount to be reported by the college for net tuition and fee revenue would be $47,500,000. Please explain the computation. Please explain the rule that requires this result. Is this a GASB rule or a FASB rule? What statement would the numbers be reflected on?

Reference no: EM13134462

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