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Mr. Hines received a 6200 grant from a local university for the fall of 2010. Mr. Hines was a candidate for a degree, and was required to be a research assistant, for which services he received payment under the grant. the 6200 grant provided the following.
tuition 3600books and supplies 500pay for services as research assistant 2100
Mr. Hines spent the entire 6200 on tuition, books and supplies.
What amount must Mr. Hines include in his income for 2010
a. 2100
b. 2600
c. 3200
d. 3600
From the foregoing information, indicate in what section of the income statement or retained earnings statement these items should be classified. Provide a brief rationale for your position.
Suppose you have a bond, with a par value of $1000, that pays interest twice a year at the rate of 12%. You paid $853.29 when you purchased this bond
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