JayamAccounts

            Ledger Accounts Ledger account is a summary  of all the transactions relating to journal entries.   It shows their net effect in a given period  in various accounts. Ledger is known as principal book of accounts.  The ledger accounts are prepared based on journal entries passed. The financial statements can be prepared from the ledger balances It can be prepared for ascertaining net profit or loss and the financial position. Normally one page or one sheet may be provided for one account.  Where computerized   accounting is followed, once the transactions are recorded in the journal, ledger accounts are  automatically prepared.

  Royalty Expenses is Direct or Indirect Expenses Royalties paid on a production basis, then the royalty is considered a direct expense and However, if the royalty is paid on a sales basis, Indirect Expenses   Journal  Entry  for Royalties paid  Royalties a/c Dr To Cash  Being Royalties paid)   This Entry Realated Video Shortly