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Miners Ltd

Accounting

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Miners Ltd. is entitled under the lease from Mr Landlord to recoup shortworkings out of subsequent excess workings throughout the term of the lease. Mr Industrious, however, is entitled to recoup shortcomings out of excess workings in any of the three half-years immediately following that in which the shortworkings accrued. The minerals raised in tonnes are as follows:

Show the Royalties Accounts and the Shortworkings Accounts in the books of Miners Ltd. both under the lease from Mr Landlord and the sub-lease to Mr Industrious. The books of Miners Ltd. are balanced yearly on June 30.