Business, 05.06.2020 01:02, Bri0929

Ghana Rice Ltd was given a license to manufacture and sell wheat on a land own by sunyani stool lands. 1. the payment of royalty was Ghc0.60 per tonne of wheat. 2. a minimum payment of rent was Ghc1200 per annum. 3. shortworking can only be recovered or recouped until the end of year 2. During the first 3 years of the contract, the following quantities were obtained. year 2011,500 tones, year 2012,2400 tonnes and year 2013, 4000 tonnes. The accounting year for Ghana Rice Ltd and the landlord received payment on the same date. you are required to: (a) prepare a royalty table for the above transaction.(b). prepare the appropriate accounts in the books of Ghana Rice Ltd.

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Ghana Rice Ltd was given a license to manufacture and sell wheat on a land own by sunyani stool land...