What amount must be included in Dean gross income

Assignment Help Accounting Basics
Reference no: EM132655709

Problem - Jeffrey Dean, a Master's Degree candidate at North State Central University, was awarded a $15,000 scholarship from North State Central in the current year. During the current year, he paid the following expenses:

Tuition $12,000

Book 1,000

Fees 500

Room & Board 1,500

In addition, he received $6,000 for teaching two undergraduate accounting courses. What amount must be included in Dean's gross income?

a. $0

b. $6,000

c. $7,500

d. $21,000

Reference no: EM132655709

Questions Cloud

Which would be included in Linda gross income : Linda is an employee of JRH Corporation. Which of the following would be included in Linda's gross income
Find an expression in terms of ya : Assume we have two economies. Economy A has a level of GDP per capita of Ya(0) which is higher than Yb(0) but it is growing at a yearly rate of ga which is lowe
The russian federation and breakaway states : Analyze the strategic mistakes that the terrorists made when attacking the Moscow Theater in 2002.
Policy implications of type of unemployment : We have discussed three types of unemployment. Cyclical unemployment which is the consequence of transitory reductions in demand for certain goods
What amount must be included in Dean gross income : In addition, he received $6,000 for teaching two undergraduate accounting courses. What amount must be included in Dean's gross income
State of the macroeconomy : Gather relevant economic statistics, such as the growth rate of real GDP, the unemployment rate, and the inflation rate, to support your case.
Criminal justice and law enforcement : Supervision is an important part of managing a law enforcement agency. careers in Criminal Justice and Law Enforcement exist, in some form of another at Federal
What amount does Stephen include in his gross income : Stephen also receives a $25,000 scholarship that pays for his tuition, fees, and books. What amount does Stephen include in his gross income
Discuss concept of throughput in theory of constraints : Discuss concept of throughput in theory of constraints is appropriate for retail and service industries. How would or could you apply this management technique

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are delta unlimited company ratios for current ratio

What are Delta Unlimited Company's ratios for the following: Current Ratio and Quick Ratio

  Compute the proper earnings per share

Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. Compute the proper earnings per share for 2010

  Work in process inventory was 14310 at january 1 and 17020

lopez corporation incurred the following costs while manufacturing its product. materials used in

  What is orton capital balance after admitting ramsey

Ramsey is admitted to the partnership and is given a 10% interest by investing $20,000. What is Orton's capital balance after admitting Ramsey

  Prepare journal entry to record recognition of fair value

Prepare the journal entry to record the recognition of fair value for 2015. Prepare the journal entry at the date of the bond purchase.

  What is the initial cost of the investment property

The building is held to earn lease rentals and for capital appreciation. An appropriate discount rate is 10%. What is initial cost of the investment property

  Prepare the monthly sales unit and dollar budgets

Mr. James, vice president of sales, is preparing the sales budget for 2014. Prepare the monthly sales unit and dollar budgets for the first quarter of 2014

  How do i find the accumulated depreciation for problem

Use Accounts Payable for the Balance Due. How do I find the Accumulated Depreciation for this problem

  Prepare journal entries for each of the above transactions

Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2016:

  What is the cost of goods sold

Purrfect Pets uses the perpetual inventory system. At the end of the quarter the balance in inventory is $30,500. What is the cost of goods sold

  Prepare a production report for the mixing department

Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead.

  Standard costing for a domino''s pizza shop would entail

Specify what standard costing for a Domino's pizza shop would entail (you are welcome to use your favorite pizza emporium for this exercise). Where would you obtain the information for determining the cost standards? In what ways would the standar..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd