I need help finding the accurate solution to this general accounting problem with valid methods.

When incorporating his sole proprietorship, Joe transfers all of its assets and liabilities. Included in the $30,000 of liabilities assumed by the corporation is $500 that relates to a personal expenditure. Under these circumstances, the entire $30,000 will be treated as boot. / Provide explanation please a. True b. False

In determining whether § 357(c) applies, assess whether the liabilities involved exceed the bases of all assets a shareholder transfers to the corporation./ Provide explanation please. a. True  b. False

I will unhelpful if wrong.

please don't solve using wrong values i will mark as unhelpful.

Don't use ChatGPT to answer this question! And don't answer with incorrect data i will give unhelpful.

The ending inventory is

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Bansai, age 66, retires and receives a $1,450 per month annuity from his employer's qualified pension plan. Bansai made $87,600 of after-tax contributions to the plan before retirement. Under the simplified method, Bansai's number of anticipated payments is 240. What is the amount includible in income in the first year of withdrawals assuming 12 monthly payments? A. $10,560 B. $12,540 C. $17,400 D. $8,220