Lesson ８

Dear Yuka,
Thank you for your eighth message. My comments follow.
Sincerely,
Prof. Sue Garreis

Dear Professor Garreis,

Thank you for your reply and corrections of my English.

I will answer your last question.

Homework

1. What is Net Income if revenues change to $40,000 and all other transactions are the same?

→$40,000 - $10,000(cost of goods sold) - $414(operating expenses) = $29,586

Net Income is $29,586.

In English write this number as twenty-nine thousand five hundred eighty six dollars.

2. What is Net Income if revenues change to $30,000 and cost of goods sold changes to 20,000?

　→$30,000 - $20,000(cost of goods sold) - $414(operating expenses) = $9,586

Net Income is $9,586.

In English write this number as nine thousand five hundred eighty six dollars.

3. What is Net Income if revenues are $30,000, cost of goods sold is $10,000, and total operating expenses change to $25,000?

　→$30,000 - $10,000(cost of goods sold) - 25,000(operating expenses) = -$5,000

There is no net income. There is a net loss of $5,000.
In English write this number as five thousand dollars.

4. How easy was this lesson for you?

　→The accounting was somewhat easy.

The English was about right.

Getting to and using the linked web pages was about right.

Vocabulary-Income Statement(Part 2)

Thank you for the vocabulary words.

I'm waiting for your reply.

Sincerely, yours

Yuka

The next lesson is the summary of the first half of the course. The next lesson is here: http://www72.homepage.villanova.edu/susan.stiner/cgu/summary107.htm

Enjoy your summer break! See you again in the fall.