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A LTD acquired a lease right for 10 years of a mine 1/1/2013 on a lumpsum payment of rupees 9 lakhs. It was estimated by
A LTD acquired a lease right for 10 years of a mine 1/1/2013 on a lumpsum payment of rupees 9 lakhs. It was estimated by the expert that the coal deposits of the mine were 40 lakhstones, 75% of which could be raised within time period allowed. A LTD depreciated the asset as per the relevant method. The sales and stocks (in tons) were as under: Year Sales Closing Stock 2013 30000 10000 2014 62000 8000 2015 12000 2016 402000 10000 196000 2017 402000 8000 2018 398000 10000 Show the lease account from 19 January 2013 to 31* December 2018
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