please assap i have less time only 15 min

Big Co. purchased land 5 years ago for $100,000 which it sold this year (Year 1) for $150,000. The terms of the sale included $45,000 to be received this year, with three equal installments to follow beginning next year (Year 2). Big Co.s year-end is December 31. The taxable capital gain to be reported in Year 1 is

Multiple Choice

$5,000.

$7,500.

$15,000.

Which of the following deductions is allowed as an 'other' deduction for tax purposes?

Multiple Choice

Support payments for a child

Lump sum support payments to a former spouse

Contributions to a child's RESP

Contributions to an individual's RRSP

Jessi is divorced from Caroline and as per the divorce agreement, Jessi pays support for Caroline and their child. During the year Jessi paid $14,000 in total, $12,000 of which was to meet the agreement for the child. What is Jessi's deduction for tax purposes?

Multiple Choice

$12,000

$14,000

$6,000

$2,000

Lina contributes $2,000 to her child's RESP during the year. How much may Lina deduct for that contribution?

Multiple Choice

$0

$1,400

$2,000

$400

Taxpayer J receives social assistance from the provincial government amounting to $4,000. How is this amount handled for tax reporting purposes?

Multiple Choice

$4,000 added to 3(a) and then deducted from income in 3(c).

Not taxable so no need to report it.

$4,000 added in 3(a) as other income.

Report $4,000 other income but allow a division C deduction of the same amount.