Question

1. FROM THE FOLLOWING INFORMATION PREPARE THE ANALYTICAL TABLE AND SHOW HOW LEDGER ACCOUNTS APPEAR IN THE BOOKS OF LESSOR AND LESSEE WHEN :

a. minimum rent account is opened b. minimum rent account is not opened

Land Lord: Mr. Humpty

Lessee: Mr. Dumpty

Min. Rent: Rs.60,000 p.a

Royalty : Rs. 4 per ton of iron raised

Shortworkings are recoverable during the first three years of lease

Output: 1st year: 4,000 tons; 2nd year: 8,000 tons; 3rd year: 16,000 tons and 4th year: 4,000 tons​

Answer 1

Answer:

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Explanation:

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