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What amount must be included in Deans gross income

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Reference no: EM132666195

Problem - Jeffrey Dean, a Master's Degree candidate at North State Central University, was awarded a $15,000 scholarship from North State Central in the current year. During the current year, he paid the following expenses:

Tuition $12,000

Book 1,000

Fees 500

Room & Board 1,500

In addition, he received $6,000 for teaching two undergraduate accounting courses. What amount must be included in Dean's gross income?

a. $0

b. $6,000

c. $7,500

d. $21,000

Reference no: EM132666195

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