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  3. 10:) grady is a member of a large family and recei

10:) Grady is a member of a large family and received the following payments this...

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Accounting

10:) Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payment constitutes realized income and determine the amount of each payment Grady must include in his gross income. (Leave no answer blank. Enter zero if applicable.)

A:) A gift of $23,800 from Gradys grandfather. Is this payment realized income? Amount to be included:

B:) One thousand shares of GM stock worth $196 per share inherited from Gradys uncle. The uncle purchased the shares for $44 each, and the shares are worth $201 at year-end. Is this payment realized income? Amount to be included:

C:) A gift of $69,000 of Ford Motor Bonds. Grady received the bonds on October 31, and he received $2,070 of semiannual interest from the bonds on December 31. Is this payment realized income? Amount to be included:

D:) A loan of $5,950 for school expenses from Gradys aunt. Is this payment realized income? Amount to be included:

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