Question

9.<br />Nithin owned certain patent rights. He granted licence to Subbu to use such rights<br />on Royalty basis. The following are the relevant particulars:<br /><br />year. Minimum rent. Royalty earned<br />2012. 1900. 1300<br />2013. 2800. 2200<br />2014. 3200. 2500<br /><br />The short working of any one year is to be set off against excess payable within next<br />two years.<br />Pass Journal entries in the books of Subbu.​

Answer 1

Step-by-step explanation:

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