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Answer 33 and 41 please 5-36 PART 2 Gross Income 33. LO.2 Sally was an all-state soccer player during her junior and senior years in
Answer 33 and 41 please
5-36 PART 2 Gross Income 33. LO.2 Sally was an all-state soccer player during her junior and senior years in high school. She accepted an athletic scholarship from State University. The schol- arship provided the following Tuition and fees Housing and meals Books and supplies Transportation 15,000 6,000 Determine the effect of the scholarship on Sally's gross income Sally's brother, Willy, was not a gifted athlete, but he received $8,000 from their father's employer as a scholarship during the year. The employer grants the children of all executives a scholarship equal to one-half of annual tuition, fees books, and supplies. Willy also received a $6,000 scholarship (to be used for tuition) as the winner of an essay contest related to bioengineering, his intended field of study. Determine the effect of the scholarships on Willy's and his father's gross income a. bStep by Step Solution
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