A. A Colliery Company took the lease of a coal field for a period of 25 years from 1st January, 2010 on a royalty of 25 paise per tonne of coal raised with a dead rent of * 2,500 and power to recoup shortworkings during the first three years of the lease. The annual output was as follows: Year 2010 2011 2012 2013 2014 Production (tonne) : 6,000 11,000 15,000 9,000 12.000 Write up the (1) Royalty, (2) Shortworkings, and (3) Landlord Accounw for the five years in the books of the Colliery Company. TAT 19:11 ha T 201
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Calculate the amount payable to the Landlord from the following data:
Royalty: Re. I per ton of coal raised.
Minimum Rent:
1999: Rs. 10,000
2000: Rs. 15,000 2001: Rs. 20,000
2002: Rs. 25,000
Output in Tons:
Y15
1999: 5,000
2000: 8,000
2001:30,000
2002: 30,000
Shortworkings are recoverable only out of excess royalties in the next year but not later.
