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What is Royalty Accounting? How it calculate? Give some
example.
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Answer / hannah kibuti
Royalty are charges for the usage of some assets e.g software,patent rights,copyrights,mines etc
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Answer / manjunath
ROYALTY IS SUM OF AMOUNT PAID TO LESSER FOR USING OF ASSES
OR RIGHT IS THE ROYALTY
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what is the finallizition account
The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
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