Western State University, a Public University, Had the Following Account
Question 81
Question 81
Essay
Western State University, a public university, had the following account balances for the year ended and as of June 30, 2017. Debits are not distinguished from credits, so assume all accounts have a "normal" balance. Additions to permanent endowmentsAuxiliary enterprise revenueCapital grants and giftsPublic service experseAuxiliary enterprise expenseFederal grarits and contracts revenueGiftsInterest on capital-related debtInvestrnent incomeNet Position, beginning of yearAcademic support expenseStudent services expenseInstitutional support expenseInstructional expenseStudent financial aid contra revenue)Research expenseState and local grants and contracts revenueState appropriation for operationsState appropriations for capital additionsStudent tuition and fee revenue1,500,0005,100,0001,260,0002,300,0002,410,0001,250,000940,000800,000380,00019,600,0003,400,0003,600,0004,100,0007,200,000700,000750,000950,0005,900,0001,340,0007,800,000 Required: Prepare, in good form, a Statement of Revenues, Expenses, and Changes in Net Position for Western State University for the year ended June 30, 2017.
Correct Answer:
Verified
Unlock this answer now Get Access to more Verified Answers free of charge