Question
Ron, age 19, is a full-time graduate student at City University. During 2020, he received the following payments: Cash award for being the outstanding resident
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Ron, age 19, is a full-time graduate student at City University. During 2020, he received the following payments:
Ron, age 19, is a full-time graduate student at City University. During 2020, he received the following payments:
| Cash award for being the outstanding resident adviser | $1,500 | |
| Resident adviser housing | 2,500 | |
| State scholarship for ten months (tuition and books) | 6,000 | |
| State scholarship (meals allowance) | 2,400 | |
| Loan from college financial aid office | 3,000 | |
| Cash support from parents | 2,000 | |
| $17.400 | ||
| Ron served as a resident adviser in a dormitory and, therefore, the | ||
| university waived the$ 2,500 charge for the room he occupied. | ||
| What Is Ron's adjusted gross income for 2020? | ||
| a. | $1,500. | |
| b. | $3,900. | |
| C. | $ 9,000. | |
| d. | $15,400. | |
| e. | None of these. | |
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Introductory Accounting A Measurement Approach For Managers
Authors: Daniel P. Tinkelman
1st Edition
9781138956216
