y CHAPTER 4 Royalty Accounts ne jnirdocution ~ Meaning: Royalty Minimum Reno floting and Recoupment within the life time of r: Journal Entries and Ledger Str Shortworking Recoupment of Shortworking: Pbced, the lease ~ Accounting treatement: In the books of le ~ Strike Sublease + Illustrations + Exercises and I jntroduction. Royalty is an amount payable for wilising the benefits of certain rights vested with some other person. Some people possess certain special right over certain things. For example a landlord possesses right over the mine in his land. The author of a book possesses right over his book. The owner of these rights can use the rights themselves or lease it to others. When the rights are leased the owner receives q consideration for the same which in called Royalty, In royalty agreements we come across certain special terms, it is better to know these terms before proceeding to the accounting treatment, The special terms are: (a) Royalty, (b) Minimum rent, (c) shortworkings and (d) Recouping of shortworkings Royalty Royalty is a periodical sum based on output or sale payable by the lessee to the lessor for having utilised the rights of the lessor. The person who makes the payment to the owner of the asset is known as lessee and the owner of the asset to whom the payment is made is known as lessor. Minimum Rent or Dead Rent Royalty agreements are usually associated with a clause that the lessee must pay 2 minimum amount irrespective of the volume of output or sales in a particular period. Such minimum amount is known as minimum rent or dead rent or fixed rent. Minimum rent becomes payable only when the Royalty is less than the minimum rent. When the actual royalty is more than the minimum rent then, the minimum rent will be merged with the actual royalty. Shortworkings ‘The excess of minimum rent over actual royalty is called short working. This excess is called short working for the lessee and called shortworking suspense for the lessor. Shortworking is treated as an asset by the lessee. Shortworking suspense is treated as a liability by the lessor. Recoupment or Recovery of Shortworkings Recoupment of shortworking refers to recovering the shortworking of any year, from the surplus Toyalty of the succeeding years. The recoupment may be permitted over a stipulated period of time or ver a specified period following the year of shortworking or within the life time of the lease,(a) Ficed Recoup called ined Recoupment’ or ised Recovery (6) Floting Recoupment: Whe (o) Recoupment within te of he eat is permitted over 8 ubseqUCN Period felon nent i permitted over the lense e and would be transferred to profit and [ACCOUNTINGTREATMENT ACCOUNTING ENTRIES IN THE BOOKS OF LESSEE. “The accounting treiment inthe Books of lessee canbe followed using any one of the methods, ; required ono opened (Le, without Minimum Rent A (4). When Minimum Rent Accounts ot required o ot cum (8). Wistinmum Ren Accounts required or opened (/e., with Minimum Rent Method) A. When minimum rest account isnot required ar not opened @_When (@)Forroyales parable Royals Account (vith acua pls) Shor merkings Ascuat [with son weskg] dled Accou [wih mi et, (&) For pymex of oats To Bask Aecoant (@) Fora of aes topo and los acounprodusin Account Prof ad less Accounproducton Aezourt r ‘To Royalies Acoust ‘mat Royle re less than the minimum ret (Gi_When acwal Royalties are more than the mininam rent and hor workings are recovered: [0 Forroyaes payable Royals Accoa: [ith ctl royalty) Dr. “To Shon working Accoun [wih shor working recovered] To Landes Acoust [with the amount ae) esto toyaties Tandlrs Ne “To Buk Ale (© Fortantes () Foe er a lea ae aia ‘To Royalties Account a a eye si sa arcing tm it avers Te Mino ets eo When Royalties are less than 7 Rie eee Tinie Wed erin Ne time oti ped within the permite per04 they Become Ieee 1 For Spliting ini rent to 5 To Minimum Rent Account For Payment of Minimum Rea To Bank Account q) For teanstrsng yates to pon IY ad hore inns Profit and Loss Ascouat or roduc ee ASSoun To Royalties Account nen rayaies are more than Minimum en, i) For royalties payable (© Royale Account "o shortworkingAssoun To Landlord Actount (0) For payment of royalties Tnlord Account "To Bank Accou (o) For waster of ryt Prof and Loss Account “To Royals Account (@ For ane of shonworking econ fit and Ios account: roi and ate “To Shorworking Account tion Acco and.append | br | | (o) Fortean vax fon ts stm Rent 7300p Ri Of ee A ie 1.00, 10 tn rape {0.Com. BU ota) 1 Sant Shorts aa Prepare an Analsis Table Royalty payable = $0 ps per ton of out shorrworkings=pt 3 years: output dun sre ner, | Seed | iecorab| tea 7) a so] 20 | >) an 3 | om rm | m | ae) 2 ee 9000 | {ism | 0 | tea jnum Renjaceount under Fixed Resoupmen 1g coal ine, On January 1, 1998 itentered int a istration YGWithout mis Jyothi Mining Company is enzaged in woki agreement withthe owner ofthe land which provided for (A oyalty of £20 per ton of coal raised GA minimum rent oF® 50,600 perannum i) The recovery of shortworkings within a period of rs 3 years The output during the Fist 5 years was Year Output (Tons) 1988 2000, 1998 2250 3000 3300 5000 “The amounts due to landlord in respect ofeach year were paid at the end ofthe Yea Journalise the transactions and prepae (2) Royalties A/c, (b) Short working Ale {Land Lord Ale inthe books ofthe Jyothi Mining Company. Solution: Working ‘Table of Analysis Year | ups | Rapalty | Minimom | Short | Shorovortng rons) | af €20Per working | recovered! Toe) ° | recouped " ¢ oes | 3000) ao000 | S000 | T0000 9 | 2250 | 4,000 | so.000 | $000 zov0 | 3000 | so,coo | $0000 | ~ sont | 300 | 76.000 | S000 | - 2002 | 5000 | 1.00.00 | $0000 | — To Landlord Aecoun, eine the ova ve) To [mer Bak Account [Pee toyaly Account ipo mate | og [Roals Account 7 | Short working Account colada | oie vai ProdeationAccount “To Reyalies Account eingcovally ransfered Rovalies Accou "To Shortworkings Acoust ToLandlord Account [Being oyally due and Tandloré Account “To Bank Account Inthe books of Jyothi in Journal Enric 8 Companyta cee tr Miners. gael oa mai not 3600 yeas te apa oul, pay €12 person of > ee for the first 4 years was : ie wp a) yeas Th aut el othe st yeas wo ies ee Production ron vous im a Pes i sr ecouniin tie toks Toth Mining Company im ne De paearhnes 2000 a eset (Bar| Peer — 2o01 230 — aoe it and Landlord Account. iow [ Landon ne 40000 | 1998 | By Production ale | enw Rays Account, Showering Aecoumt an Lando ‘008 vom [utente Ti 199 | by Potion Ac sa: some wn “able ofanatysis 200 | rotandecs ne oat | 2000 | By Prac Ac Sapa] Rats | Minima | Shore | Shorneting shorevortng] ner [TStonwedings A 10 eas Rent | Working vered! |Irrecoverable| Patdio ‘aa wm rons) a oe eee eed ) 2 | Totantent ae 74,000 | 2001 | By Production Ave e t £ x hs f ra keen = =| 36000 Tema] 090 20. |totanaort ve Tono0n | 2002 | By Prodection Ave we | 175 | 33000 | 36000 | 3.000 S = 36.000 we) 27: # = 9,000 9,000 | 36,000 ro ym | sso | 48000 | 36000 eee Be Lando gm | 4750 | _s.000 | 36,000 - 5 ores ec] One| Fao Ta tie Books of Karnataka Minerals Ld Toma tino) 198 [By Koray Ne Royals Account swat == foam | Yer | Parco 19 romaine Soa iB 300 | 199 | By Repy he [otandiowawe 31,000] 1998_| By Production Ae yaw ae 21800 Em 20 fro anne : lot Ne 33400] 199 | ny Protacon Ne 3.000 * Sar | nots ae ie ie ie rao To Bank ne ay 180 | Te shorvworking Ale 9,000 | 2000 -| By Production Ale 45,000 2001 | By Reyalyy Ave To Landlord Ave — im _| toner, aS 45.900 fie ame 25 Royy we ni frouatos ne 37000] 2001 | wy z 1000 Eg a ae Sere A fe Scaeetaghae 1998 | ToLandiod Ale Date | Particulars Year | Particulars “Atwount | Year | Particulars Fite vot Ts ances : Tota ay inn [oman 330601598 | By Bae ce Lente 190m | 19 | by Batance oa 8.000 , tm | romances 15000 | 19 | wy nance ee Bab Fe tandrs Sao 70H0 | by ne 18,000, = MBs Reyty we Es —— Byreae 2010 | romaine Tio 200 | by Royaies ae - [| |B) Potato we | Tebr Landlord Account ina Petco aon [ | Ps i Ne Fap00 | 1998 | By Royaties We ieee By Shoctworkings Ae 36000 1999 |tonakAc 736,000 1999 | By Royalties Ave pelo By Shorwoning Arc Sao 2000 | Te Bank ave 36000 | 2000 | By Royalties Ae 36.000 zon |ropakare 7.000 | 2001 | By Royalties Ae DDhanabad Coal Company Lid took a lease ofa mine on royalty of Re.1 perton of coal tedThe dead rent being € 60,000 pa. Right to recoup shortworkngs within a period of 5 years. Th oua First 5 years was as follows: Year Ouiput 1 20,000 Tons 0 68,000 Tons a 1,60,000 Tors N 240,000 Tons v 240,000 Tons Pass necessary journal entries inthe books of Dhanabad Coal Company. {B.U,, B.Com, Nov3001) Tail Landiank AceOUn! nan ol |e acon a em fesuoio wot | royalties Account a ee okings Account eo }froinction Account Bes nes vanstered) sine Ros 423) re eles Account i Soreorkig AcoUMt Jotandlnd Account Tanord Account "To Bank Account {Being Royalty paid] Prodstion Account "To Royalties Account [acing transfer of Royalties] Royalties Account Ta Landlord Account 128,000 1.460.000 De| | 240000 Solutio [Being Royalty due] 240.900 2 Tdi Ascoun Ee Me Bank Account TableotAnayss {Beng Royals v5] 5] | vom ar | Ouput Wear | Miimam [Sion | Shorivrking] — Short] “wa Production Account tr | 6 ert | working | “recovered! | working | Pa Mo Royals Account ‘conped | irrecoverable {Rein Royalty wane Be] | zanowe a Ea = coe Tapales Account | esac | sono | éoaoo | 2 8000 : som ero Landlord Account m | 160000 | 160000 | soem | = Gok E 128.00 [Being Royalties duel ae w -| 24000 | 240000 | sooo | = 2 Z| zangoo v__| 240,000 | 240.00 | 6,000 a = = 20.000 BapiAsconn "nthe Books of Dhanabad Coal Company {Being Royalties pai Journal Entries Prediction Account Tear [Portals a @ “To Royalies Account TT Reyaies account a Royaly nse ‘Shorworking Account pe a oon Lpecetoniyde| 00 128000 2000 0.0“on 31st December every year. Sales of locks are as follows: ce Pl Fae 2000 2001 2002299 Ledger Accounts in he Books of Dhan BME is soe tan ao ay be RoyaltyAccount Hee essary 200050 the Book of atin ae cree oat” lean gf oti Reeth eich's own sere, tt et yan 1 [Totandorsare 20.000] 1 | By Production ac aS | yet eee CL n te lew rape 20,000 ty u @,000| | By Production Are —g 7 ‘Table otAnaysis mswne | ise | 2 ee eee [000 | ~—— Roeiy | Rew | seag| eet] Set) tae im | totesdorae Taxano| mt | by rrotucton We ae wee wig | te ieswae 5.00 Tae soar | ca ma Ta. 00 sooo | toon | inom | 2 wv |rotmaorsve 2.40.000| W | By Production ve | ee ieo0 | topo | "8 | cy 240,000 20 tasom | isan |_> | nam | "sm | ts v | retandorsave 2.40000] v | By Production vc [eer Tikes Restos 24000 pes Roya Ace = GNESG Aces Lace = “cat [a Foe Paral pete Perel neveates —— 2 Fe : 1 | ToLandlond Ale By Balance 8 eet Perea | somo [Son] By Prof Lone ti som ue x |robamcewa by Roply Ne Pin somo | 201 | ay rosea Las Ae om ) Bae ee = | rotiktenne Tan in |ropaimceta By Royalty Ae mae hes | an ome Liane | be a oo eshrwone HS ws |efromctennn | 1 "To Bank Alc By Royalty Ale a 1.01900 | sage Bsn paw eon em er [Plo — 1 |ropincac o.000] 1 | Ry Royy Ae feeder Z = 00 = Fame] me | yBaneece = | topankae Tax000| m1 | By Rosaly Ae Front ast = 1200 sae 201 | By Bane wv |rommear 240,000] W | By Rosaly Ate | “ase os aR | v | ay Repty A | asi] see — opine 724000 | v yay Ne [somo | a | By Rov va 240000 30000 pram | i National | 4 [ae as patent of safety locks He gave the ight of manufacture and sale of lock || ie “Traders for 14 years on the allowing terms at iar ‘Royalty willbe @ Soneach lock soldand minimum rents €1,00,000 per year. Account i |i ‘nm ses Ajith’ Account © cE i in| ee Fimwet | Yor] Porton Bi 30 | ToBankAre ting oa ai Tonge | 2000 | By Royaliy Ave ” ” Mo Bark Account * 6 Fatal Loss coms 5 100,000, eee 8 “To Royaltics Account a | [es ed 2 aoe ‘To X's Account i |rosiegrnalies dv 2m {rosie noon | 20m | ny Reply Ate ae a. i< |" ‘To Bank Account —e jwegroiespeg) a Profit and Loss Account fe “To Royaltics Account aned oir |twcingovipwemione vega tere pea es righ wr Res Aone 5 owned censinpient igs, He pated a LisencetoY tous such igh on Ra von [foe Ro flowing te een prea es pnratts at neaee [Being royalties dee) = “2 2 mark Aco > 2s & eee 2 oes ae is vee Cesid gst [Prost ond Los "To Royals Accs ‘The deficiency of any one year ito beset off against excess pay within ext wo years Ateing replies tamed x Give journal entries in the books ofY. ee Sacre fe hortworings ASCO [8.U, BCom, Nox 994) porwr Solution: Workingwe at —_— _ “ a etamin no =| ee Ty Se] ies me [er ee oe a a | Spee nl pain et solvenonttoniiywoaiway =” | | | Srey eyes] ee] S| ry a | | 1m } UE) sesso) : qe no Ll aan ed oe eee ES ce Deigeebees meet eas Ga se 0 ee Nomi mB PER enti TF | See 130 Bo tose ph at iced ncaa Uiyertied 1 LN ts ulated nim RicRam Rao took a mine on lease on 11.2001, Royalty is pai half yearly at SO pate pe om sim rem is € 6,00 pa. Each year's shororking canbe esouped inthe rat hrc years of te Ue Fllowing are the yes ‘Terfore, his penalty is being deducted fom the oyaty payable to Landlord i Since pthing is menianed bout shorworkng recoveries, sd anf Pri and Loss Account (ip Since the royal eon ales, the opal is transferred to Profit and Loss Accoun, ‘Inthe Boks of National Publishers Journal Entries Tons 200 vo 30 Sane a 2001 upto 3st December 20 sormor 2002 upto 30K Sune weet 202 po 31st Dezember 400 opto 30h Je {Poe amon pte Gata nd recording shorter zs ae aa ) 2005 opto 33t Decenber Toba ne For Roy pi) or [Potos ‘nol | Realy weam | ‘my 00 | nde 29 nope ae ota. Ne thet ty Ryaty Ac ror gene 300) Sh a say [imine tbc 8 Dee[ Sa ae 2d to ses occuring sot wong. The som [s000| La atten xm ae ie Yar Praca 20 ane son | undo] By Roa Ae 19 i main [ome os] SEAI a as Xs vm ae ei] hyn AC 19s zie 6 how co rt ; Teyalty Aout 1s va oe & aan Da | Par a | pane ection epee aco ae of Kam Calne Ties 7] Tar | nebo! : Ta " Jimbo |totangorsve 2.00 | De) Peduton Ae fog “Tableot Anais be [foun 3s face | my | hie! eee eset fa oe ie” | wig | sed) cng | “gua 3500 ‘ape! |mecr| alae TEP) set eo | 100 | sae] se f= 3400 | Been By Pedsion ec lis | oo | seo | iw | Sculls | oe ito avo | isco | ier |= | tam | sso | tam 2am S| Fite | tooo | team | > | Sm | | te Si wl Soo |_tseco | tome |= | | =| os The Book of Karna Caer 3400 | era 5 redcion ale 0 2500 Parca ‘nim Rent zou Mo Landlord Account [Bing the mime et ueLanda Accout Toba Aca opis Account tig ryliy nse ne . “| Me Sorwarkng Account Lander Account Reinga dad shorwekingeonered Tandon Ascour "foBank Aco Being aly 3, Proactoe Act “fo oy Account Rig ester of a1 Prof 8 Las Acout "fo Shoring Account {cig shorting sone wsfeed) Royale Ascot "To Storiworings Account [Beigel duc and negworig recovered] andl Assur “ToBaek Account [Being ais pi wenn [Ledger Accounts the Books of Karnataka Coteies ‘Minimum Rent Ascot a = ica | a pea at Poon “0 | 5 [yay = wawae ‘ tao ne 0 | 10m | Rey ae am mewn a ese Dae. [Poa ae aim en 19 [ 8 Paine i a ia Rest Ns byt a i ry los ne tos [by Pete ie i otanderd At esac byron tinder yr roles Account "To Royale Account {Being yay sere) yas Asoo “Todd Account‘wo a Royalties Account 2 10000 T0000 15.0 15,00 21,000 20,000 20400 | 2500 72500 2500 | ier c Toe 0.000 Year | Paratrs 1950 [6 Prosacion Fora Rent Ae Dead Rent Ale ei By redcton Ne Emin AIC root ol Tote dercon STS rain nie et the Minimum Rent Alcona je Dexa Rent Ac By Producion Ne aa Minimum Rew Arcos Nai ‘Oly whe tact yay ua stand 1985 oa) rotantocs Ale By Podatin Ae eso Working Pru roma lanl fora pio of 10 yeas fom 1 Jan Se i geen snoop way aps ey af 5 ertam ena ase wa ea rtanalors Are 1994 | By rducton A fryer cele 25.000 25.008 Tecan oat wes ns: a ‘Short Workings Account ce 1990 200 rears “noun arars Tom om 00 * fees n. Fie Dev Rent Ale 76.000 | 1990| By Walance oa 00 8 5.000 a p= fonatnce bit To900 | 191 | wy Balance oe 15900 (a) Des Rem Acourt (2) RomiesAceoun, Dead ent Ne 5.00 { cerctghcctand (0) Ltd Accom inte books of Gat! Mine Coopay is000| 100, Cantor 98) to aac bis Tan 197 | oy Rots We _— ‘By Profit & Loss Ae ss 15,000 ‘Tableof Analysis Tar | Gap] ais | Minimam | Short [Shoriworhn thea | werking | recovered Thor ee “Amount | tear | Parcs q - Ren NeACOH Aeon Shortworking Pa ie tint the tea ernie Aon zs SE Pifol A030 Yea, ots royalty of pools ter Parca z More Mining company ok a mine on OR pe mm REM A al nnn As Ming oma eer 00 forthe cond Year ond. pe eA Tye Pf me |_—20%0 [1 Vasa is ‘Shemncaiooay year cold eeoupd whi te etme othe ease The prosuston fray fan ea 2000 waste follows fren rate 8 200 (2 | py aime ws [30 “ee eee ls Teint Rent Ale Production atom) 2000. 4300 6080 12000 —— Prep ) Minimum Rent Account (0) Roya Account ei : = (3) StonwoningAccontand (4 Landon Account in the Boks of Mysore Mining ie Baru Rent Ale Solution: Cammy, | | — ‘ableot Analysis a 8 Ta] comm] ony | Maman |Storrortin|Storwortne] Show —Tazog— Jt oo (om iow rreevered | working | “nem a4 = Tess _Imecorle a i 450] [By Roti Ae 400 : | 8s | Bs | om | im e a wo fh Bybee So ‘00 = : ‘oun fi as 3 | com | somo | sooo | 2000 = = a rm er . 2 | soo | sem | oo |“ 1000 = 2 an 500 | ttewo | oon | soon] = 4000 EB mm fe Tandrdaccet & Tn the Books of Mysore Mining Company ammo | Bee Poros om = aia ce |iy Topank are 00 | a ¥| By Misimu Rew a Teor [Para 7] ter Pozar F te aa = 1 [Tetteaae ooo] | By Reyaies ale aan Miieeeeac | ty Mimo = By Shorvoring Ae io 39 a = ee ae Fn Ys | y Mino Ro = 2 |rotanaars ie e00|2 | By Royaies We a to By Shonworking Ne Bl ax ve ou] 4. ve| By Roan Ae = ea 7; " 8900 3 000 3 | ToLanaterd Ate ‘g000]3 | By Royalties Ave com | | By Rey aa oa $B Vive frsacae pipers leg a a eae ati . Royalty & 5 znats Table Tear] Oupar| Rovalo] WR] SW] Swoles | SWR | SUN ow] S00 | To) Zam | 90900) - - 5 2e01} sao | 1aoco| 2mm | 4am) = - | 48000 202 | 11,250 | 225,000] 2,00,000 25,000 25,000 40,000 20n| 12s | 2sa000| 200m | - | somo} 200 | ‘se Parlors 311200] To Minimum Row A 211201 | To Minna Rent Ne 311202| TeAjy Oca 311202] TeStowwocing s11nas| toajy ca 31.1200] By Proticion Ae a1 26 | By Pedcton Ae 2g | 311202] By Patuction Ae 20000 311203 By Production Ac ‘Minimem Rent Aseount ae [Parner | baie | Pariatars 311200] Topsy O11Ca 200.000 | 31.1200] By Royaty Ae BySWAe 31120 | By Repay Nec By Shormoring Ae Ay Olid Account TT ba [raatay mew 311200] By Minn Raw ne ono 20000 | s1.201 yen Ron We 311202] oy Repay Ae [noon 511263] oy esas ne : Fh Minimum Rent Accouat, when iy carne ion Bengal Coal Limited leased a colliery fom Shankar at arya of 10 pertonofoal ised wie risimum rent of € 10,000 per annum, Each year’s excess of minimum remover acoal roan i ie out of royalties of next five years Inthe event ofa strike the minimum ret net pede ease provided that the actual oats ered frie yar discharged ie eta obigtion Bij year. The output ofthe colliery forthe ist seven years was as fellows Produeton(Tons)rime ia Tier to" ‘nthe Books of Bengal Coal Company Limited Minimum Rent Account Faron [ter [Par oe Poricelare Mini Rent Ne 0 | TT] By Prost A 300 eter [Pa foi ] 3 eshekreNT 199s |tostantarsvc 196 |Tosuatarsve e.g | 195 By Shon Waring Te Te.00 \ 000 To Minimum Rest Al 199s | by rodcion Ne we Thaw] 19% | os Roaie ae | cr Short Wings Minimum en som | ay rata Ne ain Tao" z wwe \ToM! | 900, To.000] 1995 | ny Royics Av ‘to shon Working A By Shon Workings Ale Tostunia’s Ale 1996 | by Royatie Nic ro Shankar's Ale 1) ea Wes aa | To Short Workings A/E — ‘Short Workings Account To Shankar's AIC — tear | Particulars ios 70.000 [1993 | By Balance od a ae a ioe ; ile ca rotate oy i oo 95 ion \ rence 15300] 195 | by omc aoe oe | mame ey 305 1996 | by eatance os 1.000 196 |To wank le 20500 1997 | ny Royaties We. | By alaes ieeo ws ws ‘oe Amine MAE ygapiis Ne Bl] se | " wy Rent Accovet = Sirke=atua oval dichogts lobia, Sonworine mS | ee et ee Speicher al a as eth ea Teale bee solachargallreta obigin Tecate dare vase ced orp Landlord} Decent 90 Teenie ina wst 200 fe sce Vaan peeve 7 YeRESSO The foots xara amon 27Sinthe thyearot 3230 ines ee rein re 3.600 ain sre (osu ofa 150. Pas he rel Evy ne ge ineperee Bombe Cli Co. and prepare ger actus wit Minna Rent at — royals Nc oo" fo Sortwoking (Supls recouped) 180 oe Toiadiow Ne aa Ker | Roam | wamm | Stor | Starworing | Stormortng | pomp | rorpavmentto Landon air rsoummen ° fmt | working | recovered | Ureconrate | eal eat me] | 20m : ee | econped i andl a0 330 = 3000 | 3000 ie ing pyren of Reval] ion 50 aoe’ lina: 2018 inens res | | ane = tw2 | aso a0 | so _ a =o a ap ge) eae te = ae is rans wo production Ae te | 3380 3000 13s = ee Roya an al | a20 95 | 3400 2000 1600 Ss Ba apace A 090 | _ tbs iso ie Toland =) oma i ire tmnt rm one 1990 [Dad Ren Ae z Landlord Ae ast "Votan Ae oe eee el {For amount duet Lando Shoring Ae Production Ae "To Dead Ron A pee {orshe amount of Shrivorking {For Rept narod 0 Hoecon A Tanilrd Xe Royals Al Toank le r for amovn pido Landlord]Ledger accounts ite Boos of Bombay Colle Company oe ene Rent Account a ro rae 1990 | Te Landlord Ae 2.000 | 1990 | By S/W Ale ee [3000] Ke vw |Totanaors Ae Foon] 1991 | By Royalty Ae oh ial nyse [oe [3000] us ro | rotansort we 000] 1972 | By Repay Ave [a byswae ie 3008 me Royalty eto Dae [Paneer ca | ute [Parr T991 [Te Minimom RENE 50] THT [ By Proaeion We ey 0 tm | re minimum Re We to | ny Prducion We Ke 5 pa 1993 | ToSWAVe 1993 | By Production Alc a Te Landon Ae tos [rosa By Production Ae To Landlord A/c zs bs Cy 19s [Tosa By Production Ne Te LandorsAve 1916 | re Landon ave 86 By Production Ae sopalance BS so Batance 4 10 | 995 I) Repay We By Balance os 290 1996 | yuan 20) | Paras Dat] Perea To Dank Ae ro Bank Ale To Bank Ale [To Bank Ne To Bank Ale Dy Mime Rest NE By Mina Rest By Minima Rest By Reply Ae By Realy Ae 195 | y Repay Ne By Repayaco ead fen eae i ae ee ee ey re ae “” rt ‘recover working fo Bank Ta pe eee ince |r eer eeccae —_ . Ti] i068 setae te ae | 1 eae z= Belemsloleel ss, | - same reine = ae | ie | Poel eee |e Rages | Sr aii Eales = fe toe | iim | ie | ee || | = a ed mbes [os |e L : as = * emis! im [neta ee om 1995 [To Gupras 2.000 | 1993 | By Production Alc 99 [To Bank Alc 12,750 | 1999 | By Reyaties Ae ae e we | cones >| te: | ao | ents a = ees wer lrsssenmmne | 288m [orp a a Tt eases ee es ee 2 Se nan gwen 7 ee diel “eit abana pee i = ts aloe ee Te Gupa's Ate To Gopa's Ae 2010 By Production Ale “The Asm Col Cot. ose a, howe Account er [Partenors By Balance at nthe year ofa ik, he minim rt i isto 73pm ei ‘nt Aeing a “A oe Sa mic fap etn es commencingm ena Rent Acemmt Year [Portas [er [Parent ay Tyo tansorg i camer] Roar : To LandlordNe som] ¥e [Be ial [iso | ; he Jae x by Ropes i ¥ lor. igom | ve |B Ba [a S05 eee oer = Ey Tear [Porters risers Seay [se 1 |oDsad Ren Ae Talace fe ae 7500 rs a6 uve |topatanec bt aon] ve | Balase ot = Fo Ded ent 000 nas 00 nye |ToBatncet 3a | me | By Realy Me Pale imum enh se morta yale aaa band ase of aca mia on tA 1997 on fe loi ws 13500 (a) Royalty Ret pes tonne. g wre |Topaimects no | ws | By Ronaly Ae ae en Rent 12,00 pete La] y (9 Recon ac onwadngs of rch er ange nent 3errmnectionasieet as 200 per ann ee ache ein etn oan ioaas Cae Co a ee ra eons mrs ms By Podecion Ale ‘Seat period of loekout = By Prodction Ale | By Production Ale fe) Werking forthe iat years 25 (UO Year$$ Reraty bc fe [iota Solation: ig ‘ — we] paar sherworting| Shor aa | xg ee reared | verti, | onl vm num Ren Te rcouped _| irecoverabl 000-01} To Mine Rent Ae by Preto A 4901-02) ToShatwerkings Ave va Se aa slo ma 02-02} Ts Shorwerkings Ave 2002-030) Proscion We = to Landon ave weno mina nt forte eer 2002 665-79) 10)-04 To Minune Ac Minimum Reat= 12.000 365 i ss = 200 mm Shartwking —— 4g catesttion of mnie rent fre eer 2004 Aternangy | Pere ret a (Minimum ret for 2 woah 1200, 1999} To Miu Ren aeons 2 {@) Minima ent for roth E on : 2010-01] Bases = at =3.000 fr minimum Ren Ae 50 vage0 x, sa ‘a 01-02} To Baenes Wd “Add. Minimum et for 4 months (0k) 2102-00] Te Balance bd x ToBalancedis [To Minimum Rent AleRamesh wrote a book on Finaei Howse om the terms that royalties wil Be per annum, witha ight of recoupment of ‘The details areas under: Year 1996 197 1998 = ip Som Accouting and gt rb sad pe copy sod, subject. aminimur rent gf svorkings over the ist fOur years of the royal short workings Aly ascent Nafeapiesprned 1,00 2000 5,000 4000 5.000 Prepare Minimum Rent Account, Royalties As Account i the books of Himalaya Publishing Hous. Solution: Caleatton of Number of copies sot Nef copies i closing stock 100 200 300 500 ‘Number of copies old = Opening Stock + No.of copies printed ~ Closing Stock 1996 = 01500~100-1400 copies 1997 100+2000 200-1900 copies 1998 =200+3000 300-2900 copies 1999 =300+4000~400-3900 copies 2000 =400+$000~500-4800 copies Pa iin as count, Short Workings Account and Ramey “noseotanipa A ee ese ae SES ge accede an eedenla: | em mecen|esiem|: | ee eee | | 1 | an | 8 wo | tm | atm | ee | > a z = owe em" a ms Fees iets ee ee [er] Fatt tame ——t esinnan enc tw tay a feat dt to Minimum Rent Ve 14300 1998 | by rot [Tos 10 rol ise, ro stor Workings Ae al i Te Ramesh A/c LEB | 19 | ran a Ln 7 Ta pet 243020 |b Pat Lo = 2 =a ® ‘Short Working Acount = Fars pa = ina ReneAE cea = wr |re palace Ws _- ; 17 Fo Minimum Rent Ale saad ion | emalancebis ane a Te Mint Rent A/c i =_—S; mn |Tonsancwe Roti t Ty Paid Lowe a ry e [Particulars ‘ a EAE :Fanicnas roBhaskar sAZe 8 royalty of € 4 per ton of coal raised subject t9 minima ent of € 20.000 pe angry ye ing ro Balance bid paruculr "eng Fe snactors Ac Yeer Sales{Tons) Closing Sicet( tons) 1395 2200 00 Balance 1386 S30 500 Ffophaskor's Ac ‘97 4 a0 1938 co) 200 lance id 1999 7000 00 You are requised to prepare necessary ledger accounts Wo record the above yay a the Books of Am ng ae Farcaters Calculation of Outputs Fo ak Ale ‘Output = Sales+Closing Stock—Opening Stock 1995 =2.200+300-0=2,500 tons 1996 =3300+500— 300-3 500 tons [to Bank Ale 1997 =4.800+600—500=4.900 0s 1998 = 6,000+700~600=6.100 1088 2000 =7.0004800—700=7.100 008 ‘Outpar | RepayMinimum Rent Account 7] ewe [Porters By Royalies Ale By Shortworkings Ale Teor [Pariclors ou | To MeShukla Ale By Royalties Ae 15,00 | 2001 By Shortworkings Ale aor |ToMeshukla Ale Tear | No ofCopre] Tine Shortvoring) — Sh = Su mim | ing | receeed” | wertng | See | Tecouped |trecoerabe| fails ao} ise] ase [seem | eee Se |) vase | sao |" 2. . = 5009 Z| 3900 | 9.000 | tom | T aoa | 2000 | {$000 Jor| soo | 2asoo | _1som | _- E a 9 Royalties Account Ter 30 | 2000 30, 74.300 74300 15.000 “4.000 79.000] Paral By PELE 2001 | ay rena zon | py reine [By PAL Ale ok Ne oBank Ne pent Ne Bank Ae ae yan nr ct adapt eh Soe un naua sede apeeae oe ase 0 Hinds Pals ary 008 or iar a po sia De HIO0 a oe Whe tt bes 2001 a | tps 31st Dec 2002 00 io » = Upto 31st Dec.2003. 000 rt food Z: tion of Royalty pen_ a ies th ont A see seo | Seria no a (aint cs itl i083 ror bss uit | eae pay AON ean Aa ened ‘Less: Specimen aod . eens * Wastage = 1: cman Ade aos 8 2e0e_|_s10000 ana inet Biokan See i | The Books of Hindustan Publishers Royalty: be Royalty Account a hs hesineeas tear [Pact Pe nom ee | si er edted 2080 i se aa | 200 | Te DeRose 730] 2K0 | By Pfc &Laww Are cme ae Js sweaworking adjusted ‘cant nes $500 2400 ami | toDeRa0's ae 1500] 2001 | By Profit Loss Are ire ‘ona : | sn pa a? om |toeRavs ae To 200 | By Prate LossAte : “Table ot Anas a $ a 2003 |ToDeRao's Ae [aro 200 | By Prof & Loss Me Q fet | wi [eownaicope | renee] “a | 21000 799-00 | 11,000 [15.000] — 00 i 7300 | 15000 16.000 | 151000 24,000 By Royalty Ale By Royalty Ao By Royalty Arc lee relating 1 theyre 1997-2004 et a =vw Domestic APplance's Account 2001-02 JTo tmcome Tax. oo To Shortworking Suspense Accoyny fm He never Rarive cea —— anges recat en 202-43 | acme Tos ee rer ae a = pein royals receiabe meee Te | ease Royalties Receibable Account — om f "fo Profit and Loss Acenunt oe tan Ld had pened uel A pnd ane ing royals eeelable | mse the right montane an selon ene fr seven 3a. TRE SUI tems epg gy eee mr zl {@) Aroyly of 8 tobe plo ach ele sod ms Boa eae Aut | {© Amiimum payment oF 00 er sme Fi ral hanatne is eso hei ing yal rc bea = {6)__Thengheededac nwo fatoing year any excess fhe minimum fn over thee 0a ‘ | = replies inary ye ae Bink Aon i “To Demestic Aplianc's Acoust halene | ene eee {eng royalics receivable ese Yearended 31.1998 on om 1999 50 guano Royals Resa sum ‘Yearendes3 "fo Profit and Loss Acouat ‘ ‘Yearendod31 32000 a0 ert Worn Suspese econ ass Jour ene for for yeas forte tonne book Hindusan Li opty [| “Mo rt and sce jad Domestic Aplin’ Accent Shotvekig Suopense Accom Se Royalties Recto Aca eng opal eel da. ‘with necessary leer accounts. Iteing Shonworking irene transfered oe ‘Yearended 3132001 esto [ tosingsoransessilevanterey | om Bank Account| cing royalty cceabe reed "To Domestic Appliances Account oyaly Receivable Asount anau a a o sharinorhing eset AF _ ee — oe [rota aie a rr z a tea | ee [antes Sept 0] | Lig | fer [rset — sxa.i| ronan ee {Bact | ene ames Ate | ty | gear | Polke Lowa 50 Ta = a dl cee ae Wee | oy ar Bee esse txaeotaea mene |e Bee | vee | terme Lona a tng P Theme tas Ne se [ge Rosen som tye | oy maser an x00] qrveer | To Motte Le ne — 0 ea este eg eae | tore | eet War | sytar matinee [too [seo] ee SerworingSomeme ie | ton = Torna ApmlancTsAoust War Sa al [ear | Paro yt rtig —_ er = 2; Seowoig ec 30 ee a Roja Re a Teron Ree irae [Pots 7 ounce Aca = ear [alae u Pod s Fs eee eae nice] 1ae7) over 3a60| Nex [oy : Terenas | 36000 Oe saascke 3 =r aa a0 00] ver | oy scan | ronan Rn [nauont | 1.2017 008 pees [ae 000 aver | Topanece ae ~ ! san |r emcee | sizes (nF an AE | wie | apres om, $9,000 Beet | To royay nsencane | tos i= ) Totals ot ‘ger | nya ‘Sunder and Company has ight opal ‘som pba Roay Ret ness pice bok batt rer | To oyay Reccned ate a ran re rostings canbe ecuped nthe fs ive yer on yee bd za = 7 soecrrtaietes el _¥ fa | NosfCopcsPabtated 100 3000, 60, $000 $0 Parca : ions inthe books of Sunder and Comen ~ [Te Rovaly Resa Ne aan | To SW Suspence Necoro royalty Reelvabe Ae Profit & Loss Ae * aly esha o - egos Fae rasa om (Mee ionnarasammssLe NSE Mop ata oshy oe Pa Cosl Com ie — | a Biar Coal Company underiook sm ys excess of RIUM TER O¥EE ACARI aya es Bie workings Suspense Ae vi «minicar rea of € 17,000 pa. Each years ces Of TEED rt Se CO ee To Royalty Reccnble We Bl | tom scveable ring the Suse eth minimu rent WS 10 De eEaded as hy HE ueing oly rehab de) am imum reat was notated di 1 2K, he output a been KN vm bs ste length of he stoppage: The output Was a falgnt om {edaced proportionately having read “To Dike Coal Company At “he tear Producion(Tos) Pe oetyrcomareneg BT | iran 1 200 ial Restless | | 7 a i400 "To lroit& Lows Ae bei re p01 Prosthet tine io 18 iar Coal Company Ale 1» 15000 (Strike fr 3 months) Soctvoring Suspense Ate 7] | i100 oa 25000 ‘a Rovsy Recchble Ate | | "tae | ‘Pass the Journal Entries inthe books of Mr.Gupta. | Bee sank Ae “To Bihar Coal Company Ae = “able ofAnalyis {Being royalty receivable eceie rom iar [Prcmcten | Roly] Minima | Short |Shormorting] Sort | aro (ae Tor * fm” | wering | mcowred! | wortng | aio “9 Prot & Lows Ale recouped_[irecovereble | fndrg Ipeing Really recente) ins zw00 | trace] 15000 [= =) 000 Shortworkings Susponse Ae 1956 aero | 1300 | 500 - = | toe Mo Pra & List Ne ; 13 toon | 1200 | = 2.000 = | trom {Ring Shortvorkngsineoney sre ue a zzo00 | zoo |= 20 700 ah 708 ‘Coal Company A 9 isa | i220 | = 220 | 750, | 12980 ‘iar my jo0o_| 7000 | - =| 23000 Shortvorkines Suspense Ne 2000 2 “To Royal tecevable Ae 100 Ta the Hooks of Gupia (Lessor) Being royals rece dae] Journal Eatries TankAle ‘To har Coal Company NeSUD-LEASE sear eee tube tr wT of ty meen called ub—Heas. In sucha case, nae neat tithe anda os sar “oun, short workings acca nae cum shorworkingsag “The terms ofthe orginal lease may tw another person (2 sub=fessee), such aa fof the orginal lesce will Be two Fold ~ as Less seems tno the sublesec, A lessee he mails 070 APE rare aeeun, Ax ut) fssor he maintains Royaly Receivable x account and sub—lessor account ‘A point of significance incase of ub total preduction of sales of both the lessee and the ‘Mlustration 26 Sub sass) varatanjobasa pref mantactariag and stig of Tobacco Pipe 1H g2¥6 Ns Pala Sy Sundar tar fom 11996 Minimum Reais 40.00 a, Royalty se, PoP sol Shortweking Sata a ae exces royalty nny yen Sham Sunda” gave its sb icon to Sud Land Seater tara ad sate ron 119903 yar Rateof ovat is 125 pepe oan Company O00 a yea SundarLal Company can wete~offsbortworkng inthe Fst 3yeus fom the date of taking sublease. case tat the indorsed to zt roya ed he obese re er oe Noof pipes sold: 1 an Toss 199920002001 2aooo 29900 —=«6 000 2,000 = 960 10016000 Faw tfollowigaccounutatbebooksofShyam Sundae (Royalty Payable Account (@) Shonworkings Account (i) Royalty Receivable Account (Ge) Manoj’s Account {(#) Sundar Lal Company's Account. 1B, B.Com. April 2001) Solution: 125! 14300 Royals T2000 | 20,000 "the Books Stam Snday ro Bslance bid Hip Manoj’ A’e To Balance bia 16000 16000| Lo T2000 1400 19 L ne aa pee am a = a a nit SRO aoe fp Manos Ale F240 200 | By P&L = a ae 7m layratmae 38000, = ae = aed a By Blane rae = By Roles ADe ty Receivable Account Tear [Poreaar Ter | Porenar 1999 [To Pram Eas AT 1597] By Sundar CATA 2000 | o Prosi Lass Ne 2100 | ny sunartat ve 3 7 a 201 | ro Prost& Los ae 2001 | y Suna tat ve 20000 | soam | 2a 20,000 iaaro | Sis | ne oo } oe ‘Sundar Lal's Account ae 30,000 = 8.000 | =a ee [er Pariatre oom | 2 1999] o Royals Rewhatieare [1200 197] By Dank A . oa ! ae Tai epee 2000, | To Reyaty Ressivbie We 2000 | ny pink ave ‘an | ho ovine 2001 | tRoyaty Rescate Ae 2001 | By Bank ve 000 a= co ime | 30,000 - poe 12,000 e {Onl1-1993 Besu cbaieds ming lease fom Murthy and fom hatdatehesub—lesedapanar UE] aso | 22.00 E neo Ganesh, Te the wot Year Output aised(Tons) an pa —_ es Parsee Paveaton on 90 2000 2400 a e000 tooo Fo Monty's A ‘aon wo 1995 24000 10.900 so] 1986 seo0 44000 ueto site) Monty's Ale sor] re ‘oto 24000| eo] Royatyperton 82 3 rivarking Ne 2000 Dead Rent pa. 1) 20.000 pete “ v1 Dyers Ave F forthe year only. : angbe Aoyay Reena ACCU iter [Paras ie iar | Te Prom ConA om] ss] By Gene ———}~_ 000 [Sar rwe4 | to Prot Loss ne |rxo0r] 904 | ny canes ae [ea xa] = Profi. Lessa | sama] 19s | vy oanes’s ne |e Ue a igen SE lerarecte Soren ae | 3o,000 aia 1996 | to mosca toss Ne ret] 1996 | ny canes = 720 ES 997 | rooms Los ae Tain] 197 | By canes Ae a 72.00 mg “Sort Working Suspense Account ieee | ear_| Porter : i995] totais Tama | 1983] By Ganon se a 14,000 Tom 1994 |rotamec 22.000] 194 | By Balance ws eat 1 Gmetis Nc ie 0 eer tos |ronejatyReenatteae —[1oan0 | 19s | By Balance it ras Te Prom tons We ‘00 ftotamese oon 1936 |rorone Los ale 1596 | By Balanced sa Se “peo Be ee eet niin 0 5 Hagan Seman * ROSY 2S Wa ay, asec in shor WORINS aE athe int ogee seAncesi HN Litloe Sawai Not ne rane nova SOT le en be Prete ofl) ih 7am ome 2 pty pido he basis of wis Sl, ited Serna incon Potted lak Lames dNaefsee ry pai on he bei ofp els rule redvton le ¥) Poa sae lesa Nowe apr means te gh of wc Becht wig weer D)Lewe Ome dNmeatine Petar workings se owe pri ied Dringae W)Lewarak olewese OPnttan nate ova payable by Les Pencrpenature b)lacme )Rereme Noel neces promises conpersi srt wis vere et ey ihc Pica epet New oe recovering the exces paynt made ver aul yay inte ey ease ‘b)Recoupment ofshort workings nme sne fini rent ove aunt paid el pein‘Actual royalty Rs.54000 and short workings Rs.6000 Caleulste minimum ren 8) Rs$2000)Rs4000 «) R.60000 d) None of these “Allowing the lessee to recoup any short working within a specified period i clled 4) Fixed b) Fluctuating )Fixedand Flucuating 4) None ofthese Royalty is an agresment between 4) Lessor of lessee b) Detzorand crestor) Seller and In royalty account, ouput predced ia urs in val 1 8) Sales + opening stock ~ Closing stock 1 Sales - Opening stock *closing stock 6) Sales + opening + elsing stock 1) None ofthese Royalty receivable accounts inthe nature of ale 4) Real b)Personal c)Nominal 4) None ofthese ‘When shor workings are recovered the account 1 be debited is 4) Landlocdale b) Short workingsale_) profitand loss le 2) None ofthese ‘When shot workings ae recovered the account tobe relied is 2) Landiorae_b) Short workings ale «)Profitandlssa/e d) None of these “The royalty ae inthe books of lessor shoud be transfered 10 2) Producionae b) Profitand loss alec) Production or P&L ale d) None ofthese COviput sold in units is equa 0 4) Prodaction + Opening stock Closing tock +) Production - Opening sock + Closing stock «Production - Opening stock ~ Closing tock buyer) None ofthese yoo Section Gay econ Aral TM fom flog ate ee a0 pa: eh of eum iy Fete 0.0 eh I saleable ope te Pye ape sor Ma ee 1 bl of om aon dy aS a Mii Ro entity (Reval wae (0) shor workings reser ite) (Te pets Aya MM 1990: 2.000 tons 1995000 ee 1992 15.00 tons wate i: rey sor iE 508 ome ani ea ite in mee Minow Ren oo {eval raable eee {G)_shrs workings en Be recreate gh a eat Fes pototon Sr he re wetsoe 2000 2.000005 201 3am 2002: 4,00 095 2005450008 prepare a9 analysis abe rom falling is Fey parle = 5 ctx of our Misinum Rent = € 40.0007 Pip recoupmen of set nrg = ie open Pieedoring he fs re eas 00 is BED os an 1200 ws ieptreCeniy, MEm 28) (2; 8am. 28 ity payable = workings canbe recouped for the fiat our eas 10.0008ted Featot€ 24.00 sheet Fat in png egameda neo NH oneal Te nag FOC 2.000 Serr 0 SM Kamat 1 ro io 3. oe io ‘ono ei _ MO om tate gon aie yen Te eS Ropmioaeaeoe RSet any yaw bea ofagaianrepaies payale in cnc of ean rt con nen eh ea aa Tac dein of am cf su nthe niu et ol ing each, as rovide tt Motu owned he te a aks pa ae Ca Tae oT ea 10 perc ang eminem HAE Neg a ese or fie yes regorings Account the Boks of [Recount MPs Account and Sho nuns 1995, he rand cence oY one sch Rights on Minima ra of 15.00 pa I, Mex owned certain patent Rights. ot Hor working could bey Meat bn The following ae the relevant parla ae a a Minimen a Roel ail ‘working occured abject wi ’ minim irwasseoeed ht ea low mals waet sain he Yai ick he stn, Oe = mF Sectors 98 be Lock sald dt t996 i000 000 1997 12300 3.000 nt ee 1998 15000 1,300 16.000 1998 13000 qn dncheney of ny one yar is to be set oT agains ences payable within te nest to ea Rereeecsanvingth ko Ne) aan es pofosol wher aFinnc Acuna eet iShadow | cota elteea ees vere 2 Miata wr Tena pei 20% onsale cook The ook spice a 175 pe Me wr Tex sk Bsc “The Author sto be pad the minimem rent of€ 75,000 per annum. cece remit and tit pubis toh Veda Bock aa Tolan en ory ome cre at of we pe Seeebcamly tay atc a ‘sat hee years period subject 10 the minimam amount of € 9,000 in that partic 221 any sort working aig te fs fursaree prnted Casing tock a0 7200 Sow 100 s.000| 2000 00 1997-98 tomo 10.00 12.000, eee ee Ti ——— Pass Tora cis he hak of Hangar PbS (2 co, pa a Stan ofall aston ena 42.00 pe onun. Shr Pa oe gp min 4 years othe commences of he tase. Te party ap es rapt edctin he nb freaky om un ai Th sl wokg warm falls 25, Janary 1 1993. X too a ese ao 1993 «0.00 tons 99 75.000 tons 195 70.000 sons (st 1996 1.05.00 tons ‘Sow ihe leger acount ofthe anlod ond shortworking. fiom Bon the tems that opis wl 15% te lysed wrk for 0 moni) lomagene bls pce ofthe epics ublaed peice were fll Published price) 1999 6.00, "You a advo pass Tour EMSs nthe books oF B- Jateac of some granite fearing land It Jan 200, the rms being arya of ra ent of € 20.00.00 per annum wih sight ofreeoupmst of ing ar the potiulrs. Be rant ray ld na Pl Hid Fe enon nots eee ovens Baan moneaia 2 years hig arising Scns ged at PO ta onan Saige 1 pi ; = a ee fron of coal raised witha misimumrc of 20 ad omer ae four years of the lease. a my ate oe pa ionic meaey Financial Aceoy ing from a landlord fora period of 10 years from Ist January 32. Nischal Mines Company took lease an ha dead rent of € 40,000 and power to recoup she ings Royalty of & 10 per ton of coal raised wit during the first 4 years of ‘The annual output was as follows: wae Output (tons) 200s 2,000 2006 3,000 2007 4,000 2008 4,500 2009 5,000 ‘Ne (c) Short workings A/e and (d) Landlord A/e in the booksoy Prepare (a) Dead Rent A/c (b) Royall Nischal Mines Company. [Bangalore University, B.Com, 209)