Lesson 5


Dear Kazu,

Thank you for your fifth message. My comments follow.

Sincerely,

Prof. Sue Garreis



Dear Professor. Susan Garreis,


Thank you for your reply and corrections of my English.
I will answer your questions.


>I hope the warnings will be better in the future.
→I hope, too.


>Does Japan have a festival for fathers?
→Yes, there is.
→The same way in Japan, there is a Father's Day on the third Sunday of June.
→In Japan, gifts or flowers are presented in thanks to the father, or there is a family meal in the same way as the United States.



I have a question for you, Professor Garreis.

Japan is now in the rainy season, so we have daily rain.
It has been more humid.
In the United States, is it the rainy season now?

>On the East Coast where I am the rainy season is usually in April.
>However, this year we had rain in March, April and May.
>Now we have very little rain.




Sincerely yours,

Kazu





<Homework>

1. What is a balance sheet?
→The balance sheet represents the state of assets and liabilities and net assets.
→Assets = Liabilities + Stockholders' Equity.

Correct!


2. What is stockholders' equity in the U.S.?
→Shareholders' equity is the owners' original investment.
→Net earnings from the business.
→Net loss from the business.
→Dividends paid by the business to the owners.

Correct!


3. Name one current asset of Oracle in 2011.
→Cash and cash equivalents.

Correct!


4. What is the value of that current asset?  Please write the entire valuein US dollars.  Write the entire value in words.
→Cash and cash equivalents is sixteen billion one hundred sixty-threemillion US dollars($16,163,000,000).

Correct!


5. Name one current liability of Nike in 2011.
→Current portion of long-term.

Correct!


6. What is the value of that current liability?  Please write the entirevalue in US dollars.  Write the entire value in words
→Current portion of long-term is Two hundred million US dollars($200,000,000).

Correct!

7. Please send me the Japanese translation of the words in the list below.
Please write the words in romajii

English                       Japanese

accounts receivable → urikakekin
assets → shisan
balance sheet → taisyaku taisyouhyou
cash → genkin
credit → kaikakekin
current asset → ryuudou shisan
current liability → ryuudou husai
debit → karikata
dividend → haitou
double-entry → hukushiki

>Thank you for the vocabulary words.


8. How easy was this lesson for you?
→The accounting was Somewhat hard.
→The English was Very hard.




Kazu, there are three attached files.

1. #5 Balance Sheet Part 2 is the new lesson.
It is the second of two lessons on the Balance Sheet.
This week we make a simple Balance Sheet.

2. Accounting Glossary has definitions of important accounting terms.
Print this file.
Translate this file.
Use this file for the rest of the course.

3. BeachToysTransJan10.xlsx is an Excel file.
The new lesson links to this file.
Print this file if that helps you more.

>What is your favorite month?
>I like October best.
>It is cool! And the fall leaf colors are so pretty.





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