Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ann is a graduate economics student at state unive

Ann is a graduate economics student at State University. State University awarded her a $1,000...

50.1K

Verified Solution

Question

Accounting

Ann is a graduate economics student at State University. State University awarded her a $1,000 scholarship. She works as a half-time teaching assistant in the Economics Dept. at State University and is paid $7,000 per year and her tuition is waived; tuition is $8,000 without waiver. Her salary is equal to that paid to other part-time instructors. Ann paid $500 for her books and supplies and she incurred living expenses of $7,400.

Ann gross income is 7,500

explain to Ann the tax consequences of this amounts.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Alex, who is married and the father of four, is age 45 and expect to work...

Accounting
Q

For a basic spring-mass-damper system with the following information. Mass = 0.35kg Spring Constant = 10000 N/m Initial displacement...

Mechanical Engineering
Q

The ABC is a triangular plate of uniform thickness The sides are in the ratio...

Physics
Q

Juan saved $1,000 from his summer job cleaning pools. Which of these savings vehicles would...

Basic Math
Q

C Method Number Three Stratified Sample Consider the field as grouped in vertical columns called...

Statistics
Q

3 Find the solution set of each equation in the interval 0 sx 2 tanx...

Calculus
Q

Direct materials Direct labor Variable overhead Fixed overhead Total Cost $ 66,950 $ 56,650 $...

Accounting
Q

Collins & Harper, LLC serves as the independent auditor for Springfield Spirits, Inc ("Springfield"). Springfield...

Accounting
Q

Landen Corporation uses job-order costing. At the beginning of the year, it made the following...

Accounting
Q

multiple-choice: At the beginning of the year, Really Happy Co. estimates annual overhead costs to...

Accounting
Q

Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31...

Accounting
Q

EXHIBIT 14B-Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and...

Accounting