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Ann is a graduate economics student at State University. State University awarded her a $1,000 scholarship. In addition, Ann works as a half-time teaching assistant in the Economics Department at State University. She is paid $7,000 per year and her tuition is waived. The salary is equal to that paid other part-time instructors. Her tuition would be $8,000 were it not for the waiver. Ann paid $500 for her books and supplies and she incurred living expenses of $7,400. Determine how much gross income Ann must report.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9961661

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