2. A company insurance salesman sold a life insurance policy to a client for a premium of €20,000. The agency billed the client for the policy and is entitled to a commission of 20%.

(2) Robin Company acquires a piece of land on which it intends to build a factory to produce its primary product. The land is listed for sale at $460, 000, but Robin Company’s real estate broker is able to negotiate a sales price of $420，000. The land contains an old office building that is razed at a cost of $25，000 ($29，000 in costs less $4，000 proceeds from salvaged materials). Robin Company pays a commission to the real estate broker of $23，000 and an attorney’s fee of $6，000. On its statement of financial position at December 31， 2014， what amount will Robin Company record as the cost of the land?

1. Computer the revised annual depreciation in 2007, 12/31 for Buildings

2. Computer the revised annual depreciation in 2007, 12/31 for Equipment

1. A utility bill for €2,000 was received on the last day of the month for electric and gas service for the month of June.

3. Supplies on hand at the beginning of the month were €4,000. The agency purchased additional supplies during the month for €3,500 in cash and €1,200 of supplies were on hand at June 30.

4. The agency purchased a new car at the beginning of the month for €24,000 cash. The car will depreciate €6,000 per year.

5. Salaries owed to employees at the end of the month total €5,300. The salaries will be paid on July 5. Instructions : Compute the correct net income.

(a) Cash receipts from customers.

(b) Cash payments to suppliers.

1. What is the stated interest rate for this bond issue?