A Ltd. obtained from B. S. Ltd. a lease of some coal bearing land, the terms being

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A Ltd. obtained from B. S. Ltd. a lease of some coal bearing land, the terms being a royalty of ~ 15 per ton of coal raised subject to minimum rent of ~ 75,000 per annum with a right of recoupment of shortworkings over the first four years of the lease. From the following details show (i) Royalties Account; (ii) Shortworkings Account; and (iii) B.S. Ltd. Account in the books of A Ltd

Year

2010

2011

2012

2013

2014

Sales (Tonnes) Closing Stock (Tonnes)

2,000

300

3,500

400

4,800

600

5,600

500

8,000

800

Related Book For answer-question

Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

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Posted Date: Mar 28, 2024 07:54 AM

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A Ltd. obtained from B. S. Ltd. a lease of some coal bearing land, the terms being

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Expert Answer:

A Ltd Leasehold Accounting 20102014 Heres a breakdown of the accounts for A Ltd based on the lease agreement with B S Ltd Assumptions Coal price per t... View the full answer

Advanced Accounting

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