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what is the book keeping?
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Answer / rakesh kumar prasad
book keeping is the art of recording business transactions in
a systematic manner. it is a process of identifying financial
transaction to measure them in terms of money for recording
and classifying them in books of primary entry or books of
account.where it ends where accounting starts.
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1. ABC Pvt. Ltd acquired the right to publish a book entitled “Accountancy easy” From Writer at a royalty of Rs. 20 per copy of the book sold. The minimum rent was fixed at Rs. 30,000 per year. It was agreed, that the short workings of any year can be recouped with in 2 years immediately following the year in which short workings occurred. The no. of copies sold during the five years was as following: 1. 1st year -1000 2. 2nd year -1400 3. 3rd year -1800 4. 4th year -3000 5. 5th year -1200 Show royalties account in the books of the publisher.
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