Question: M/s Sunkhani & Co obtained on lease a plot of land from Nepal Government to extract gold on Royalty at Rs 500 per gram of

M/s Sunkhani & Co obtained on lease a plot of land from Nepal Government to extract gold on Royalty at Rs 500 per gram of total Gold extracted. Minimum rent shall be Rs 20,00,000. Further on the same date, M/s Sunkhani & Co sub-leased the part of land to M/s Goldie & Co at a royalty of Rs 800 per gram of gold produced. In that year, Sunkani & Co raised 5,000 grams of gold whereas M/s Goldie & Co raised 500 grams of gold. The amount of income from sub-lease to be transferred to Profit & Loss account by Sunkhani & Co shall be:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Establishing contingency reserves to deal with untoward events is an example of: Select one: a.risk transfer b.risk avoidance c.risk mitigation d.risk acceptance

IM Me with price and any questions SIGNATURE PROJECT ACC432A June 2014 WARDENS' 2013 TAX RETURN CCH BOOKLET TITLED: 2014 Edition Individuals', Corporation, partnership, and Fiduciary Fact Patterns...

i've already prepared the journal so 1. post it to ledgers 2. Do task 3 3. dont forget additional info (on top of business transactions) 4. The balance is 3000000 Air Conditioner's - RM 100000...

Analysis: /1 . Draw a best-fit line (1 mark) /3 . Determine the slope by hand using GRASP (3 marks) 12 State the shape of the graph, and relate the shape to an appropriate physics equation (2 marks)...

Date Particulars LF Details Rs. Amount Rs. 1993 Sept. 3 M/s Satya Prakash and Co. 10 kg. of Tea @ 22.50 per kg. 15 kg. of Cocoa @ Rs. 15/- per kg. 225.00 225.00 450.00 45.00 405.00 Sept. 13 450.00...

X supplied goods on sale or return basis to customers, the particulars of which are as under: Date of dispatch Party's name Amount Remarks 10.12.2017 M/s ABC Co. 10,000 No information till 31.12.2017...

Date Particulars LF Details Rs. Amount Rs. 1993 Sept. 3 M/s Satya Prakash and Co. 10 kg. of Tea @ 22.50 per kg. 15 kg. of Cocoa @ Rs. 15/- per kg. 225.00 225.00 450.00 45.00 405.00 Sept. 13 450.00...

Bate Date Particulars LE Details Rs. Amount Rs. 1993 Sept. 3 M/s Satya Prakash and Co. 10 kg. of Tea @ 22.50 per kg 15 kg. of Cocoa @ Rs. 15/- per kg 225.00 225.00 450.00 45.00 405.00 Sept. 13 450.00...

please give correct Answers X supplied goods on sale or return basis to customers, the particulars of which are as under: Date of dispatch Party's name Amount Remarks 10.12.2017 M/s ABC Co. 10,000 No...

Uncertainties: Data Analysis Uncertainties: Data Analysis Laboratory Report Name - -MW/TTH Laboratory Report Name -- --MW/TTH A.1 Significant Figures. A.3 Significant Figures. Re-express the...

Case study M/S Peter & Co is a well-known professional audit organization for the last two decades. Mr. Peter is a senior partner and has appointed four other partners subsequently. Perter & Co has...

Nonmonetary Exchange Santana Company exchanged equipment used in its manufacturing operations plus $2,000 in cash for similar equipment used in the operations of Delaware Company. The following...

Yuen Co. of Windsor has requested that you prepare journal entries from the following (this company uses the Allowance for Doubtful Accounts method based on the income statement approach): 2012 Dec....

Question 5 ( 5 points ) Listen The Code of Conduct indicates that integrity is measured in terms of what is: Written down as ethical rules Convenient and profitable Wise and appropriate Right and just

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...