Lesson 08

 

Dear Natsu,

 

Thank you for your eighth message. My comments and corrections follow.

Sincerely,

Prof. Sue Garreis

 

 

Dear Professor Garreis,

Thank you for your reply and corrections of my English.

I will answer your questions and reply.

 

>Our portion servings are really big.

>At a restaurant many of us take some home to eat at another meal.

 

⇒I see. It's difficult for me to eat and leave nothing left over.

 

>What is the name of your favorite supermarket?

 

⇒My favorite supermarket’s name is ECOS.

It’s a small supermarket.

I often go there with my mother.

 

>We also have sudden intense thunderstorms.

 

⇒I worry about you.

I'm scared of thunderstorms.

 

>I long for cooler weather.

>What is the weather in Japan now?

 

⇒Japan is the rainy season now, so it often rains here.

I don't like the rainy season, because I don't like the humid weather.

But I like hydrangeas. It's a typical flower that blooms in the rainy season.

http://fabon.cocolog-nifty.com/photos/uncategorized/2008/06/09/photo_2.jpg

 

>Here is a picture of the totem pole:

http://www.townofbethanybeach.com/index.aspx?NID=325.

 

⇒The totem pole has a unique face.

 

>A totem pole is a carving of figures of importance to Indians (native Americans).

>Nanticoke Indians used to live on this land.

 

⇒That information is new to me.

 

>One garden was Lavender Fields. Here is a link:

http://www.lavenderfieldsde.com/.

>It is the only lavender garden in Delaware.

>The grounds were beautiful!

 

⇒Oh!  It’s very beautiful!

Lavenders are fragrant flower.

 

>When you can relax, where do you like to go?

 

⇒I like to go to library.

I like the smell of the books.

 

 

 

Thank you for reading my email.

I’m waiting for your reply.

 

Sincerely　yours,

 

Natsu

 

 

<Homework>

 

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

 

⇒The net income is $19,446.

 

>Correct!

 

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

changes to $20,000 and operating expenses are the same?

 

⇒The net income is $9,446.

 

>Correct!

 

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?

 

⇒Not Net Income. The net loss is $5,000.

 

>Correct! Under US GAAP we use parentheses to show a net loss. In the income statement the net loss is shown as ($5,000). The parentheses emphasize the negative number. It is easy to miss a minus in a long list of numbers.

 

 

4. How easy was this lesson for you?

The accounting was: Very easy

The English was: Somewhat hard

Getting to and using the linked web pages was: About right

 

Vocabulary - Income Statement (Part 2)

English→Japanese

accrual method→hassei syugi

accumulated depreciation→gennka syoukyaku ruikeigaku

depreciation expense→gennka syoukyakuhi

expenses→hiyou

operating expenses→eigyou katudo

outflow→ryusyutu

income statement→sonneki keisannsyo

transaction→torihiki

 

>Thank you for the vocabulary list.



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