Hello. (:
Me and my twin sister decorate pencils, and we are thinking of selling them. They look very beautiful and professional. Basically, they're like pencils that you can buy at a store with the plastic designs on them, but the ones we make are decorated with paper instead and everyone we have spoken to prefer ours over store-bought pencils, so I know there is a demand for them, especially since we are seniors in High School and school is just around the corner. We have a few ideas that will hopefully help us sell them successfully.
-Selling at school (not for our personal profit, i know that's illegal. It would be for fundraisers and such)
-Outside of walmart, but Idk if that will work because they sell pencils and stuff
-Giving one to each student in theatre class (most of them are very popular), so people will see them and ask where they got them
-Making a facebook page where people can order custom and already-made pencils, see what they look like, ask questions, etc.
If you can give us any more ideas or advice, that would be great.
Thank you :)![]()
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Open Question: Tips for selling pencils?
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Elisa Diaz Company produces computer software that Batangas Company sells. Diaz receives a royalty of 15 percent of sales. Batangas Company pays royalties to Diaz Company on a semi-annual basis-- on May 1 for sales made in July through December of the previous year on November 1 for sales made in January through June of the current year.
Royalty expense for Batangas Company and royalty income for Diaz Company in the amount of P600,000 were accrued on Dec. 31, 2012. Cash in the amounts of P600, 000 and P1,000,000 was paid and received on May 1 and Nov. 1 2013, respectively. Software sales during the July to December 2013 period totaled P15,000,000.
1. Calculate the amount of royalty expense for Batangas Company and royalty income for Diaz during 2013.
22. Record the adjusting entry that each company made on Dec, 31,2013.![]()
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