Lesson7

Dear Professor Garreis,
Thank you for your reply and corrections of my English.
I will answer your last questions.

What is the longest trip you have taken in Japan?
>I traveled ten hundred miles (one thousand or 1,000) in Japan.
>>Wow! That is a long trip!

Where did you start?
>I started at Morioka.

Where did you end?
>I finished at Osaka.
>>The names of towns, cities, states and countries are always capitalized.

What did you see on the trip?
>I saw festival! I went to Universal Studios Japan (USJ).
>http://www.usj.co.jp/
>A lot of fun attractions are there. I like this attraction.
>http://www.usj.co.jp/attraction/the-amazing-adventures-of-spiderman-the-ride.html
>I went to there 3 years ago. I want to go to there again.
>To play costs a lot of money, I have to save money.
>>The Spiderman attraction sounds like such fun!
>>It does cost a lot of money to go to these parks.
>>It is expensive in the US, too
>>I want to go someday to Universal Studios in Florida to see the Harry Potter attraction.
>>I loved the Harry Potter books and movies.

Did you travel by foot (walking), bicycle, motorcycle, car, plane, bus, train?
>I traveled by train. It takes 4 hours.

I looked at the page that has some pictures of Louisiana.
You sent the link of the pictures. It is each time beautiful.
When I look at those pictures, I relax. I'd like to go to Louisiana sometime.
Do you like pictures? Do you take many pictures?
>>I love to look at photos and I like to take photos.
>>However, my daughter took most of the pictures in Louisiana.

I play a guitar and a base. I use telecastar.
>>My goodness! Telecasters are a famous type of electric guitar.
>>How long have you played guitar?

Those are practiced every day for next month's live. It's fun to play those.
>>Next month (July) you will have a live performance?
>>Are you in a band?

Homework
1.What is the format an American Income statement?
>The format an American Income Statement consists of Revenue, Cost of Goods Sold, Gross Margin, Operating Expenses and Net Income (Loss).
>>Correct!

2.Use your words to tell me how to calculate cost of goods sold.  Please do not use any numbers.
>Beginning Inventory + Purchases - Ending Inventory = Cost of Goods Sold.
>>Correct!

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 for Beach Toys, Inc.
>>Correct!

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

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.

>>Even though it was very hard, you did very well. Congratulations!

Vocabulary - Income Statement (Part 1)
>>Thank you for the vocabulary words.

I'm waiting for your reply.
Sincerely yours,
Aya


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