Lesson 10

 

Dear Professor Garreis,

Thank you for your reply and corrections of my English.

I answer your question.

 

Is the eleventh of the each month still a special remembrance day in Japan?

I pause every month at 2:46pm when the East Japan earthquake disaster occurred on March 11th. A silent prayer is said for the people killed in that earthquake disaster in Japan.

In addition an East Japan great earthquake disaster victim ceremony is held on March 11, the day the earthquake happened.

An earthquake happens in Japan almost every year.

Most of the earthquakes are weak ones and are barely felt.

The East Japan great earthquake disaster that occurred this time (2011) resulted in a tremendous amount of damage.

>I heard that is was the biggest earthquake since record keeping started in the 1800s (eighteen hundreds).

The big earthquake that I know in the past is the Hanshin Awaji great earthquake disaster that occurred on January 17, 1995.

>I remember the Kobe earthquake. A friend of mine from the University of Delaware was there with a group of students. They just finished their course in Kobe and were ready to return to the US. They were delayed for a long time. No one was hurt, fortunately.

There were more victims and heavier damage from the East Japan great earthquake disaster than from the Hanshin Awaji great earthquake disaster.

http://en.wikipedia.org/wiki/Aftermath_of_the_2011_T%C5%8Dhoku_earthquake_and_tsunami

http://en.wikipedia.org/wiki/Great_Hanshin_earthquake

>Thank you for these links. They were very informative.

>The worst national disaster we had was the 9/11 attack on New York City.

>California gets bad earthquakes sometimes, the Midwest gets tornadoes and the east and southeast coasts get hurricanes.

>But the terrorist attack had worse effects than the worst of any natural disasters.

Was your family affected by the earthquake and tsunami?

Were there a big case and accident as well as a 9.11 synchronized terrorist attacks case in the United States?

Was your family affected by the earthquake and tsunami?

My family could not be affected by an earthquake and the tsunami.

>I am glad you and your family were not affected by the East Japan earthquake and tsunami.

 

Sincerely yours,

 

Genki

 

 

 

(Homework)

1.    What is the format for an American Income Statement?

The format for an American Income Statement is revenue, cost of goods sold, gross margin, operating expenses and net income (Loss).

 

2.    Use your words to tell me how to calculate cost of goods sold.  Please do not use any numbers.

To calculate cost of goods sold, add beginning inventory to purchases then
subtract ending inventory to purchases.

To calculate the cost of goods sold, add beginning inventory to purchases then subtract ending inventory from purchases.

3.    Did Beach Toys use LIFO or FIFO to calculate the cost of goods sold?

Beach Toys uses FIFO to calculate the cost of goods sold.

>Correct.

4.    Does the purchase price of inventory rise or fall for Beach Toys, Inc?

The purchase price of inventory rises.

>Correct.

5.    Which inventory method (LIFO or FIFO) is better for Beach Toys, Inc to use?
"Better" means "results in lower income tax."

Better to use the LIFO for Beach Toys.

Better for Beach Toys to use LIFO.

>Correct.

6.    How easy was this lesson for you?

The accounting was: Very hard.

The English was: Very hard.

Finding and using the linked web pages was: Very hard.

 

 

Vocabulary―Income Statement (Part 1)

cost of goods sold>uriage genka

first-in, first-out>sakiire sakidasi

gross margin>uriage sourieki

inventory>tanaoroshi shisan

invoice>seikyusyo

last-in, first-out>atoire sakidasi

net income>junrieki

purchase>kounyu

revenue>syueki

sale>hanbai

>Thank you for the vocabulary list.

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