Value the following for balance sheet purposes by applying the accounting concepts:

(a) Land bought for £10,000. The company has had an offer of £20,000 but it doesn't wish to sell as the land is needed to build a new factory and it is estimated that a similar piece would cost £25,000.

(b) A building left to the owner of the company by an aunt. He spent £5000 converting it and now lives in half and uses the other half for the business.

(c) An inventory which consists of 1000 units of a product which cost £6 per unit.

The company has a contract to sell 600 at £ 12 each but expects that the remainder will have to be sold off at £5 each and even then there may not be any buyers.

(d) The company is being sued by an employee for wrongful dismissal without redundancy payments. These could amount to £500 if the employee wins his case and other damages may be awarded. The company believes it will win the case.