PLEASE ANSWER ASAP !!!

7) During the year, X Co. sold depreciable property (the last asset in the Class) for $7,000 and experienced a loss of $3,000 for accounting purposes. Before the sale, the UCC of the Class was $10,000. How will that loss be reported for tax purposes?

A) Allowable capital loss of $1,500 B) Terminal loss of $1,500, claimed against business income C) Terminal loss of $3,000 claimed against business income D) Capital loss of $3,000 claimed against taxable capital gains

11) DJ owns rental property and wishes to minimize the income associated with rental. DJ may deduct CCA (capital cost allowance) with which of the following limitations?

A) No limitation on CCA. B) CCA on a building is limited to the net rental income after other expenses. C) CCA may not be deducted on rental. D) The deduction of CCA on all rental assets, combined, cannot exceed the taxpayers net rental income before CCA.

13) Leslie sold 500 shares of X corporation that originally cost $19 for $15 per share. The following week, Leslie repurchased 200 of those shares for $18 per share. What is the adjusted cost base of the remaining 200 shares?

A) $4,400 B) $3,600 C) $3,800 D) $3,000

14) Rene sold 500 shares of X corporation that originally cost $19 for $15 per share. The following week, Rene repurchased 200 of those shares for $18 per share. What is Rene's allowable capital loss?

A) $1,000. B) $600 C) $0 D) $100