He 3.Fr. Kernil owned the patent of a safety lock. Vigilant Equipments Ltd. acquired the right tomanufacture and sell the Locks for a period of ten years on the following terms:a. Vigilant Equipment Ltd. to pay Fr. Kernil a royalty of 5 for each lock produced with aminimum annual payment of 25,000. Accounts are to be settled annually on 31stDecemberb. If in any year the royalty calculated on locks produced amounted to less than 25,000,Fr. Kernil is to have the right to deduct the deficiency from the royalty payable in excessof that sum (minimum rent) in the next three years. The number of locks produced was asfollows:ofYear endedNumberD31st DecemberProduced2012300020132014400052006300201520167000Prepare necessary ledger accounts in the books of Vigilant Equipments Ltd.

He 3.Fr. Kernil owned the patent of a safety lock. Vigilant Equipmen

1.	He 3.Fr. Kernil owned the patent of a safety lock. Vigilant Equipments Ltd. acquired the right tomanufacture and sell the Locks for a period of ten years on the following terms:a. Vigilant Equipment Ltd. to pay Fr. Kernil a royalty of 5 for each lock produced with aminimum annual payment of 25,000. Accounts are to be settled annually on 31stDecemberb. If in any year the royalty calculated on locks produced amounted to less than 25,000,Fr. Kernil is to have the right to deduct the deficiency from the royalty payable in excessof that sum (minimum rent) in the next three years. The number of locks produced was asfollows:ofYear endedNumberD31st DecemberProduced2012300020132014400052006300201520167000Prepare necessary ledger accounts in the books of Vigilant Equipments Ltd.
Answer» HI I am KHUSHI Kanojiya ROLL

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