Vol. 1
recoupable
21.40
3. Ramu took a lease of mine for a period of 20 years. Royalty payable is Re. I per tonne
subject to a minimum rent of Rs. 12,000 per annum. The shortworkings are
during the first three vears of the lease. The output was:
1990 - Nil
1991 - 4,000 tonnies
1993 - 40,000 tonnes.
Give journal entries, Shortworkings account and Land lord's account in the books of
Camu.
1992 – 20,000 tonnes.
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