Question: Roger, age 1 9 , is a full - time student at State College and a candidate for a bachelor s degree. During the year,

Roger, age 19, is a full-time student at State College and a candidate for a bachelors degree. During the year, he received the following payments:
Item Amount
State scholarship for ten months (tuition and books) $3,600
Loan from college financial aid office $1,500
Cash support from parents $3,000
Interest on CDs $1,700
Cash prize awarded in contest $500
Total: $10,300
What is Rogers adjusted gross income for this year?
A.$1,700
B.$2,200
C.$5,800
D.$10,300

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!