Dear Dr. M. Susan Stiner,

I really appreciated that you gave me your reply.

Thank you so much again.

As you mentioned, there is a legal drinking age here in Japan. It is

20. A legal smoking age is also 20. To tell the truth, I sometimes enjoy drinking

before that age. What a bad boy!

Do you think it right to study various areas not in detail? I can't decide

which subject to study deeply. I'm afraid I will not complete anything. Please

give me your opinion.

In the assignment,

1, While the balance sheet is a financial snapshot, giving you a picture of

the business's assets and liabilities on a single day at the end of the

accounting period, the income statement shows you a summary of the flow of

transactions your business has had over the entire accounting period. In other

words, the income statement shows you what happened during the period between

balance sheets.

2, Using LIFO to value inventory, the amount of gross margin is $15,000 as cost of goods sold is $15,000.

3, Japanese translation

• cost of goods sold-----uriagegenka
• first-in, first-out-----sakiiresakidashiho
• gross margin-----uriagesorieki(ararieki)
• inventory-----syohin
• last-in, first-out-----atoiresakidashiho
• net income-----junrieki
• purchase-----shiire
• revenue-----syueki
• sale-----uriage

That's all. Thank you for reading it all.

Sincerely,

Fumi