During the current year harrison sustained a serious injury


Question - During the current year, Harrison sustained a serious injury in the course of his employment. As a result of the injury sustained, he received the following payments during the year:

Unemployment compensation - $5,000

Worker's compensation - $6,500

Damages for physical personal injuries - $5,000

Reimbursement from his employer's accident and health plan for medical expenses paid by Harrison -  $2,000

What is the amount to be included in Harrison's gross income for the current year?

A) $2,000

B) $5,000

C) $6,500

D) $11,500

Solution Preview :

Prepared by a verified Expert
Accounting Basics: During the current year harrison sustained a serious injury
Reference No:- TGS02512283

Now Priced at $20 (50% Discount)

Recommended (91%)

Rated (4.3/5)