On 1st January2012 X Lt .took on lease a mine from Y Ltd . on a royalty of Rs. 15 per tonne of mineral extracted with a minimum rent of Rs. 30,000 per annum. The following
relate to the working of X Ltd. For the first three years.
Year 2012 2013 2014
Out put(in tone) 1800
2200
2000
Give journal entries and ledger accounts in the books of X Ltd. Assuming that there is no provision for recoupment .
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Yes the answer will be for assuming
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