In a manufacturing account, royalties paid
...In a manufacturing account, royalties paid
Debited to the trading account
Credited to the profit and loss account
Credited to the manufacturing account
Debited to the manufacturing account
Correct answer is D
Royalty paid on the basis of output (manufacturing) is debited to the Trading or Manufacturing Account as it is considered a normal business expenditure.
The total of the sales journal is posted to the ...
Goods returned to the supplier is recorded in the accounts as: debit ...
Chukwu's Capital at 1/1/89 and 31/12/89 were N30,000 and N50,000 respectively. During the year h...
Income received in advance is treated in the balance sheet as a ...
Use the following information to answer the given question \(\begin{array}{c|c} & D\\ \hline \t...
Customers use the financial position of a company to ...
The market value of goods produced is? ...
Accounting concepts are rules of accounting which are to be ...