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Lyndon, Lady Bird and Hubert organized Johnson Corporation with authorized voting common stock of $375,000.  Lyndon received 15% of the capital stock in payment for organizational services that he rendered for the benefit of the newly formed corporation.  Lyndon did not contribute property to Johnson.  Lady Bird and Hubert transferred property in exchange for stock as follows:                                                                                 Fair              Percentage of                                               Adjusted                   Market           Johnson Stock                                                 Basis                        Value               Acquired                  Lady Bird           $46,000                     $131,250               35%                      Hubert          $168,000                    $187,500               50%            What amount of gain did Hubert recognize from this transaction?

In 2026, Clinton Corporation has income from operations of $192,000, a dividend from a 5% owned corporation of $88,000, business expenses of $168,000 and a dividend received deduction of $44,000. Clinton makes cash contributions of $25,000 to charitable organizations. What is Clinton Corporation’s charitable contribution deduction for 2026?

Have a great Spring Break !

“But seek first his kingdom and his righteousness, and all these things will be given to you as well.” Matthew 6:33

For Questions 3-9   For each of the following seven (7) questions, please write a well-formed paragraph as you describe the context, meaning, and significance of each quotation. You do not need to repeat the quotation in your answer.

In the Gospel of John there is a recurring pattern of Jesus being verbally misunderstood, both by his disciples and by people speaking with him. Discuss the significance of verbal misunderstanding(s) in Jesus’ conversation with the Samaritan woman at the well (John 4:1-30). Please include in your answer a quotation (with citation) from John 4.  Your quotation should support at least part of your answer but does not need to support all of your answer.

And a voice from heaven said, “This is my Son, whom I love; with him I am well pleased.” Matthew 3:17    

They asked each other, “Were not our hearts burning within us while he talked with us on the road and opened the Scriptures to us?” Luke 24:32  

In one paragraph, describe the key concepts you would explain to a client during the Psychoeducation phase of CBT for depression.

Discuss how liability concerns influence clinical decision-making, including defensive medicine and ethical implications. Consider the ethical implications of defensive medicine and how it may conflict with the principles of beneficence and non-maleficence.  Be sure to use examples discussed in the lectures, textbook, and assigned readings! NOTE – this is a “long-essay question” – to earn full credit, your response should be 4-5 paragraphs in length with extensive detail from class!