Question
Adrian was awarded an academic scholarship to State University for the 20192020 academic year. He received $6,500 in August and $7,200 in December 2019. Adrian
Adrian was awarded an academic scholarship to State University for the 20192020 academic year. He received $6,500 in August and $7,200 in December 2019. Adrian had enough personal savings to pay all expenses as they came due.
Adrian's expenditures for the relevant period were as follows:
Tuition, August 2019 $3,700
Tuition, January 2020 3,750
Room and board
AugustDecember 2019 2,800
JanuaryMay 2020 2,500
Books and educational supplies
AugustDecember 2019 1,000
JanuaryMay 2020 1,200
What amount, if any, must Adrian include in his gross income for 2019 and 2020? If an amount is zero, enter "0".
| 2019: | $ |
| 2020: |
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Property Companies An Industry Accounting And Auditing Guide
Authors: Accountancy Books
1st Edition
1853558079, 978-1853558078
