Page 185 - Accountancy_F5

Year 2020 2021 2022 2023 2024

Output (tonnes) 4,000 4,500 6,000 6,800 5,500

Required: Prepare ledger accounts as they would appear in the books of Ngao Ltd.
FOR ONLINE READING ONLY
Solution 6.6

Table analysis
Year Qty in Per tonne Actual Minimum Short Short Transferred Royalty paid
tonnes royalty rent working workings to statement
(Recoupment) of P/L
TZS TZS TZS TZS TZS TZS

2020 4,000 2,000 8,000,000 11,000,000 3,000,000 3,000,000 - 11,000,000

2021 4,500 2,000 9,000,000 11,000,000 2,000,000 5,000,000 - 11,000,000
2022 6,000 2,000 12,000,000 11,000,000 (2,000,000) 1,000,000 2,000,000 11,000,000
2023 6,800 2,000 13,600,000 11,000,000 (2,000,000) - - 11,600,000
2024 5,500 2,000 11,000,000 11,000,000 - - - 11,000,000

Dr Njombe Miners Ltd. Account Cr

TZS
Date
Details
Date LANGUAGE EDITING TZS
Details
31 Dec. 2020 Royalty receivable 8,000,000 31 Dec. 2020 Bank 11,000,000
st
st
31 Dec. 2020 S/workings allowable 3,000,000
st
11,000,000 11,000,000
31 Dec. 2021 Royalty receivable 9,000,000 31 Dec. 2021 Bank 11,000,000
st
st
31 Dec. 2021 S/workings allowable 2,000,000
st
11,000,000 11,000,000
31 Dec. 2022 Royalty receivable 12,000,000 31 Dec. 2022 Bank 11,000,000
st
st
31 Dec. 2022 S/workings
st
allowable 1,000,000
12,000,000 12,000,000
31 Dec. 2023 Royalty receivable 13,600,000 31 Dec. 2023 Bank 11,600,000
st
st
31 Dec. 2023 S/workings 2,000,000
st
allowable
13,600,000 13,600,000
31 Dec. 2024 Royalty receivable 11,000,000 31 Dec. 2024 Bank 11,000,000
st
st

Student’s Book Form Five
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23/06/2024 17:35
ACCOUNTANCY_DUMMY_23 JUNE.indd 172
ACCOUNTANCY_DUMMY_23 JUNE.indd 172 23/06/2024 17:35