Accounting regulation issues

Below are three separate items on accounting regulation issues. Research each and write one or two paragraphs to discuss the situation and provide a solution to the situation/question that is supported by proper sources. Be sure to properly cite the IRS code and other items used to support your points.
1. On June 15, Party A orally offered to sell used equipment to Party B for $125,000, indicating that B must accept the offer by June 20. On June 16, Party C offered $150,000 to A for the equipment. A accepted the offer. On June 20, B, noting that C was using the equipment, sent a letter to A indicating that B accepted the June 15 offer. What are the legal aspects of this situation? Who has the legal right to the equipment? Why? Be specific about the law supporting your answer.
2. Betty, a divorced person and custodian of her 12-year-old daughter, filed her tax Year 9 return as Head of Household. She submitted the following data to the CPA who prepared her return. In June, Year 9, Betty’s mother gifted her 100 shares of ABC Stock, a company listed on the NYSE. The mother’s basis of the stock, purchased in Year 1, was $4,000. The market value on the date of the gift was $3,000. Betty sold the stock on June 30, Year 9 for $3,500. The mother paid no gift tax. What is Betty’s reportable gain on the Year 9 federal tax return for this transaction?
3. Independence and due professional care are two important items discussed the AICPA Code of Professional Conduct. Research these two items and cite specific instances of violation, describing what should have been done to uphold independence and due professional care.

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