The Seventh
Message
Dear Mitsu,
Thank you for your seventh message. My comments follow.
Sincerely,
Prof Sue Stiner
Yamamoto Mituhiro wrote:
> Dear Prof. Sue Stiner,
> > Will you continue to watch the
World Cup even though
> > Which team do you want to win?
> Yes! I continue to watch it.
> My fabvorite team is
> I think
> But The main force players can't play the final game because of cumulative yellow cards.
Good call! Now that the World Cup is over, what sports will you follow now?
> > Was this homework too easy?
> > How long did it take to do this homework?
> The last lesson was easy for us, because we prepared for the balance
> sheet in Prof Shiina's class. His explanation is easy to understand.
He is a very good professor!!
> I did the homework in about an hour.
> This week's homework was hard to understand...
> I had a difficult time.
I am sorry to hear that. Why was the homework so hard?
Is the English hard to understand?
Are the accounting concepts hard to understand?
> Last Monday, I bought new model laptop!
> A computer is a must now.
> It took 200,000 yen(about $1600).
> I borrow the total from my parents.
> So I must pay every month. I'm in debt...
Do you like your new computer? What kind is it?
So sorry you are in debt. My daughter, who is in college, is in debt, too.
That's the way many American students make it through college these days.
> I'm interested in American-style donut.
> There are many starbucks in
> I loves their coffee! I used to dip biscotti into coffee.
> I'll try to dip donuts into coffee next time!
Donuts are very sweet. Most American snacks are sweet. Many Japanese
people do not like American snacks, because they prefer salty foods.
What is your favorite snack?
Homework:
1.What is the format for an American Income Statement?
The answer is: Revenue minus Expenses equals Net Income.
2.Use your words to tell me how to calculate cost of goods sold.
First, Add the Purchases to the Beginning Inventory. Next, Deduct the
Ending Inventory from that value.
And the amount is the Cost of Goods Sold.
Correct!
> I understand the chart. But it is hard for me to translate the chart into sentence.
You did well! I understood what you said. And what you said was right.
Is the concept easier or harder to understand when I use charts?
3.Did
The company used FIFO.
Correct!
4.Is the purchase price of inventory rising or falling for Beach Toys, Inc?
The purchase price of inventory is rising.
Correct!
5.Which inventory method (LIFO or FIFO) is better for Beach Toys, Inc to use?
"Better" means "results in lower income tax."
LIFO is better method for Beach Toys, Inc.
Correct!
> Vocabulary - Income Statement (Part 1)
Thank you for the vocabulary list.
How long does it usually take to do the homework for these web lessons?
Please enjoy your summer break. When we return, please tell me
what you did this summer.