Page 184 - Accountancy_F5

Dr Chemba Ltd. account Cr
Date Details TZS Date Details TZS

31 Dec. 2019 Royalty receivable 12,500,000 31 Dec. 2019 Bank 15,000,000
st
st
31 Dec. 2019 S/workings allowable 2,500,000
st
15,000,000 15,000,000
FOR ONLINE READING ONLY
31 Dec. 2020 Royalty receivable 13,750,000 31 Dec. 2020 Bank 15,000,000
st
st
31 Dec. 2020 S/workings allowable 1,250,000
st
15,000,000 15,000,000
31 Dec. 2021 Royalty receivable 14,400,000 31 Dec. 2021 Bank 15,000,000
st
st
31 Dec. 2021 S/workings allowable 600,000
st
LANGUAGE EDITING
15,000,000 31 Dec. 2022 15,000,000
st
31 Dec. 2022 Royalty payable 17,000,000 Bank 15,000,000
st
_________ 31 Dec. 2022 S/workings 2,000,000
st
17,000,000 31 Dec. 2023 allowable 17,000,000
st
31 Dec. 2023 Royalty receivable 20,500,000 31 Dec. 2024 Bank 20,500,000
st
st
31 Dec. 2024 Royalty receivable 22,000,000 Bank 22,000,000
st
Dr Short workings allowable account Cr
Date Details TZS Date Details TZS
2,500,000
Balance c/d
31 Dec. 2019
Chemba Ltd.
31 Dec. 2019 LANGUAGE EDITING 2,500,000
st
st
31 Dec. 2020 Balance c/d 3,750,000 1 Dec. 2020 Balance b/d 2,500,000
st
st
31 Dec. 2020 Chemba Ltd. 1,250,000
st
3,750,000 3,750,000
31 Dec. 2021 Balance c/d 1 Dec. 2021 Balance b/d 3,750,000
st
st
4,350,000 31 Dec. 2021 Chemba Ltd. 600,000
st
4,350,000 4,350,000
31 Dec. 2022 Chemba Ltd. 2,000,000 1 Dec. 2022 Balance b/d 4,350,000
st
st
31 Dec. 2022 Statement of P/L 2,350,000
st
4,350,000 4,350,000
Example 6.6
Ngao Ltd. granted a lease for mining activities to Njombe Miners Ltd. based on TZS
2,000 per tonne of minerals extracted subject to a minimum rent of TZS 11,000,000 per
year. The lessee has the right to recoup the short workings within two years following
the payment for the respective short workings and not afterwards. The output in five
years was as follows:

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