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A wrote a book and gave the right of its Publication to B For Four year on the Following terms: A lump sum royalty OF ₹ 4,000 was Paid to A on April 1, 2012 and in addition a royalty of ₹ 4 Per book Sold wes Payable For each year Subject to minimum of ₹ 4,000 For 2012-13 ₹6,000 For 2013-14 and ₹7,000 For each subsequent year, this royalty being Paid on 31 April the Following number of books sold in 2012-13, 2013-14 2014-15 and 2015-16 respectively was 800, 1200, 2000 and 3,000 Prepare necessary accounts in the books of B For Four years.
journal entry?
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A wrote a book and gave the right of its Publication to B For Four yea...
Journal Entries in the Books of B for Four Years:

Year 2012-13:
- On April 1, 2012:
- Royalty Paid to A: ₹4,000
- Cash A/c Dr ₹4,000
To Royalty Payable A/c ₹4,000
- On April 30, 2013:
- Royalty for Books Sold: 800 * ₹4 = ₹3,200
- Royalty Payable A/c Dr ₹3,200
To Cash A/c ₹3,200

Year 2013-14:
- On April 30, 2014:
- Royalty for Books Sold: 1,200 * ₹4 = ₹4,800
- Royalty Payable A/c Dr ₹4,800
To Cash A/c ₹4,800

Year 2014-15:
- On April 30, 2015:
- Royalty for Books Sold: 2,000 * ₹4 = ₹8,000
- Royalty Payable A/c Dr ₹8,000
To Cash A/c ₹8,000

Year 2015-16:
- On April 30, 2016:
- Royalty for Books Sold: 3,000 * ₹4 = ₹12,000
- Royalty Payable A/c Dr ₹12,000
To Cash A/c ₹12,000
These journal entries show the payment of lump sum royalty to A and the subsequent royalties paid based on the number of books sold each year as per the terms agreed between A and B for the publication of the book.
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A wrote a book and gave the right of its Publication to B For Four year on the Following terms: A lump sum royalty OF ₹ 4,000 was Paid to A on April 1, 2012 and in addition a royalty of ₹ 4 Per book Sold wes Payable For each year Subject to minimum of ₹ 4,000 For 2012-13 ₹6,000 For 2013-14 and ₹7,000 For each subsequent year, this royalty being Paid on 31 April the Following number of books sold in 2012-13, 2013-14 2014-15 and 2015-16 respectively was 800, 1200, 2000 and 3,000 Prepare necessary accounts in the books of B For Four years.journal entry?
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A wrote a book and gave the right of its Publication to B For Four year on the Following terms: A lump sum royalty OF ₹ 4,000 was Paid to A on April 1, 2012 and in addition a royalty of ₹ 4 Per book Sold wes Payable For each year Subject to minimum of ₹ 4,000 For 2012-13 ₹6,000 For 2013-14 and ₹7,000 For each subsequent year, this royalty being Paid on 31 April the Following number of books sold in 2012-13, 2013-14 2014-15 and 2015-16 respectively was 800, 1200, 2000 and 3,000 Prepare necessary accounts in the books of B For Four years.journal entry? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about A wrote a book and gave the right of its Publication to B For Four year on the Following terms: A lump sum royalty OF ₹ 4,000 was Paid to A on April 1, 2012 and in addition a royalty of ₹ 4 Per book Sold wes Payable For each year Subject to minimum of ₹ 4,000 For 2012-13 ₹6,000 For 2013-14 and ₹7,000 For each subsequent year, this royalty being Paid on 31 April the Following number of books sold in 2012-13, 2013-14 2014-15 and 2015-16 respectively was 800, 1200, 2000 and 3,000 Prepare necessary accounts in the books of B For Four years.journal entry? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A wrote a book and gave the right of its Publication to B For Four year on the Following terms: A lump sum royalty OF ₹ 4,000 was Paid to A on April 1, 2012 and in addition a royalty of ₹ 4 Per book Sold wes Payable For each year Subject to minimum of ₹ 4,000 For 2012-13 ₹6,000 For 2013-14 and ₹7,000 For each subsequent year, this royalty being Paid on 31 April the Following number of books sold in 2012-13, 2013-14 2014-15 and 2015-16 respectively was 800, 1200, 2000 and 3,000 Prepare necessary accounts in the books of B For Four years.journal entry?.
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