please help me with the below multiple choice accounting questions, thank you

1. Which of the following is not a characteristic of a likekind exchange? (Points : 1) The holding period for likekind property includes the holding period of the property surrendered. Receipt of boot can cause gain recognition up to the gain realized. Business realty can be exchanged for business personalty. Personaluse assets do not qualify for likekind exchanges. Question 2.2. Which of the following would not be considered an involuntary conversion? (Points : 1) The theft of jewelry Sale of property in a flood zone Condemnation of a building for a highway Destruction of a home by a tornado Question 3.3. Which of these is not considered an advantage of the corporate business form? (Points : 1) A shareholder employee's salary is fully deductible from corporate income Shareholders are not taxed on corporate income until it is distributed to them Shareholderemployees can participate in employee fringe benefits Corporate shareholders cannot deduct corporate losses from their income Question 4.4. Which of the following could be an indication that corporate debt is disguised equity? (Points : 1) Debt is issued to the shareholders in the same proportion as stock The debt has a specified maturity date The debt has a specified interest rate Interest is paid annually Question 5.5. What type of organization is always a private foundation? (Points : 1) A church that receives all of its support from members A scholarship fund for policemen that receives half of its income from interest and dividends A school that receives government grant funds A church that derives 5 percent of its income from rental of its sanctuary for concerts by aspiring concert musicians. Question 6.6. Cal exchanges office furniture (fair market value = $100,000; adjusted basis = $90,000) and a business auto (fair market value = $10,000; adjusted basis = $6,000) for fire retardant filing cabinets (fair market value = $110,000; adjusted basis = $80,000). How much gain or loss does Cal recognize on the exchange? (Points : 1) $0 $4,000 gain on auto $10,000 gain on furniture $14,000 total gain Question 7.7. Willow Corporation exchanged land valued at $250,000 (adjusted basis = $175,000) for a building owned by Tree Corporation valued at $350,000 (adjusted basis = $200,000) and $50,000 cash. In addition, Willow assumed the $150,000 mortgage on Tree's building. What are Willow and Tree's realized gains or losses on the properties exchanged, respectively? (Points : 1) $75,000, $0 $75,000, $150,000 $225,000, $150,000 $225,000, $200,000 Question 8.8. Willow Corporation exchanged land valued at $250,000 (adjusted basis = $175,000) for a building owned by Tree Corporation valued at $350,000 (adjusted basis = $200,000) and $50,000 cash. In addition, Willow assumed the $150,000 mortgage on Tree's building. What are Willow's and Tree's recognized gain or loss, respectively? (Points : 1) $0, $0 $50,000, $100,000 $50,000, $150,000 $75,000, $150,000 Question 9.9. A clothing manufacturing corporation donates last year's inventory to the Red Cross for use in its disaster relief efforts. The clothes have a fair market value of $200,000 and a basis to the corporation of $75,000. What is its charitable contribution deduction? (Points : 1) $200,000 $150,000 $137,500 $100,000 Question 10.10. Coho is a corporation that has $1,100,000 of gross revenue and $1,021,000 of deductible expenses? What is its income tax liability (REFERENCE TABLES REQUIRED)? (Points : 1) $79,000 $30,494 $26,860 $15,110 Question 11.11. In early 2016, Conrad Corporation discovered their bookkeeper had embezzled $30,000 over the last three years at a rate of approximately $10,000 per year. Conrad also suffered uninsured hurricane damage of $40,000 late in 2016 in a presidentially declared disaster area. If Conrad wants to deduct its losses at the earliest time possible, what are the amounts (before any limitations) and year(s) of its loss deduction? (Points : 1) 2016 = $70,000 2015 = $30,000, 2016 = $40,000 2015 = $40,000, 2016 = $30,000 2014 = $10,000, 2015 = $10,000; 2014 = $50,000 Question 12.12. Avalanche Corporation has $70,000 of net income from operations during the current year. In addition it received $180,000 of dividend income from another corporation in which it has a 10% ownership interest. What is Avalanche's dividends received deduction for this year? (Points : 1) $70,000 $126,000 $144,000 $180,000 Question 13.13. Dylan, Luke, and Hannah form a partnership. Dylan contributes land with a fair market value of $25,000 (basis of $15,000) in exchange for a 25% interest. Luke contributes equipment with a $35,000 fair market value (basis of $38,000) in exchange for a 35% interest, and Hannah contributes a building with a $100,000 fair market value (basis = $35,000) and a mortgage of $60,000 (assumed by the partnership) in exchange for a 40% interest. What is Dylan's basis in his partnership interest? (Points : 1) $15,000 $25,000 $30,000 $60,000 Question 14.14. David owns 600 shares of K Corporation stock when K is merged into Parent Corporation. David receives 500 shares of Parent Corporation stock (fair market value = $10,500) and $500 cash in exchange for his K Corporation stock. David's K stock had a basis of $8,000 and an $11,000 fair market value. What is David's realized and recognized gain, respectively? (Points : 1) $3,000 and $3,000 $3,000 and $2,500 $2,500 and $500 $3,000 and $500 Question 15.15. Corporation P owns 100 percent of Corporation S. During the year, P sold land to S for $50,000 that had a basis of $25,000 and S purchased $30,000 of materials from P that P paid $20,000 for. P reported separate income of $200,000 and S reported separate income of $30,000. What is the income that Corporation P reports on its consolidated tax return? (Points : 1) $230,000 $205,000 $195,000 $140,000