Tommy, a senior at state college, receives free room and board as full compensation for working as a resident adviser at the university dormitory. the regular housing contract is $2,000 a year in total, $1,200 for lodging, and $800 for meals in the dormitory. he had the option of receiving the meals or $800 in cash and accepted the meals. what must tommy include in gross income from working as a resident adviser?

Consider the following explanation

Explanation:

The meals value of $800 should be included in Gross Income the reason being there was option of receiving the same in cash .

The housing value and lodging value should not be included in gross income since it was give as condition of employment as full compensation for working as a resident adviser at the University dormitory.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; personality;