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I need help with these problems. Please explain with explanations! QUESTION 10 Mindy is a cash basis accountant. This year, she performed services in connection

I need help with these problems. Please explain with explanations! image text in transcribed
QUESTION 10 Mindy is a cash basis accountant. This year, she performed services in connection with the formation of a corporation and received stock with a value of $6,000 for her services. By the end of the year, the value of the stock had decreased to $4,000. She continued to hold the stock. Mindy must recognize $6,000 of gross income from the stock for the current year. True False QUESTION 11 During the year, Tim sold the following assets: personal auto for a $2,000 loss, stock investment for a $3,000 loss, and pleasure yacht for a $4,000 gain, Presuming adequate income, what are Tim's net losses? A $0 B. $1,000 C. $2.000 D. $3.000 E None of these QUESTION 12 During 2019. Jan had the following transactions Salary $ 90,000 Interest income on City of Atlanta bonds $9,000 Damages for personal Injury car accident) $120,000 Punitive damages (same car accident $150,000 Cash dividends from Chevron Corporation stock $47.000 Jan's AGIS

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