Q4: New steel ltd. Obtained a lease from old coal ltd. For a coal mine on Jan 1,2014 on the following terms and conditions. 1. Royalty @1/- per tons raised. 2. Minimum rent @24000/- per annum. 3. Recoupment of short working of each year during three years following subject to maximum of Rs 5000pa. 4. In the event of strike the minimum rent would be taken pro rata on the basis of actual working days, but in the event of lockout, the lessee would enjoy a concession in respect of minimum rent for 50% of the period of lockdown. Besides the above, New steel ltd, have been granted a cash subsidy equal to 25% of the un recoupable short working by the central govt. up to the first five years of lease. Working up to first years is as follows: Year Royalty 2014 2015 2016 2017 2018 Actual 14000 20400 32200 27200 21600(strike for 2 months) 2019 19400(lockout for 4 months) Show the ledger accounts in the books of New Steel Ltd.