ILLUSTRATION 1 Dallas Coals Ltd. holds a lease of coal mine for 20 years. It sub-leased a part of the coal mine to Austin coals Ltd. The details of output in tons are given below: Year Dallas Coals (Tons) Austin Coals (Tons) 2012-13 10,000 4,000 2013-14 12,000 7,000 2014-15 14,000 8,000 As per lease, Dallas Coals has to pay $100 per ton and a minimum rent being $15,00,000. Austin Coals had to pay $120 per ton to Dallas Coals by way of royalty. Show Royalty Account in the books of Dallas Coals Ltd. For the said 3 years reflecting both Royalty receivable from Austin Coals and Royalty payable to the Landlord