I need help with this financial accounting problem using proper accounting guidelines.

Please provide the solution to this general accounting question using proper accounting principles.

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