Lesson8
Dear Professor Garreis,
Thank you for your reply and corrections of my English
Can you tell me about Japan’s flag?
>It is a country of The Land of the Rising Sun.
The national flag of Japan is called Hinomaru.
Red represents the sun, white represents purity innocence.
>Thank you for the explanation of the colors and design of Hinomaru.
>I love the name Land of the Rising Sun.
【Home work】
1. What is Net Income if revenues change to $40,000 and all other transactions are the same?
Revenues change to $40,000 and all other transactions is
$29,346.
Revenues $40,000
cost of goods sold :
beginning inventory $0
purchase $37,000
less:ending inventory $27,000
cost of goods sold $10,000
gross margin $30,000
operating expenses:
depreciation $104
salary $400
telephone $150
total operating $654
net income $29,346
>Correct.
2. What is Net Income if
revenues change to $30,000 cost of goods sold changes to $20,000 and operating
expenses the same?
Revenues change to $30,000, cost of goods sold change to
$20,000 and operating expenses is $9,346.
Revenues $30,000
cost of goods sold :
beginning inventory $0
purchase $37,000
less:ending inventory $17,000
cost of goods sold $10,000
gross margin $20,000
operating expenses: $10,000
depreciation $104
salary $400
telephone $150
total operating $654
net income $9,346
>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?
Revenues are $30,000,
cost of goods sold is $10,000, and total operating expenses change to $25,000 is
－$5,000.
cost of goods sold :
beginning inventory $0
purchase $37,000
less:ending inventory $27,000
cost of goods sold $10,000
gross margin $20,000
operating expenses:
depreciation
salary
telephone
total operating $25,000
net income －$5000
Net Loss ($5,000)
4. How easy was this lesson for you?
Somewhat
hard
【Vocabulary Income
Statement(Part 2)】
Accrual method → Hasseihouhou
Accumulated depreciation → Genkasyoukyakuruikeigaku
Depreciation → Genkasyoukyakuhi
Expenses → Syuppi
Operating expenses→ Kadouhi
Outflow → Ryushutu
Income statement → Sonekikeisansyo
Transaction → Gyoumu
>Thank you for the vocabulary list.
Sincerely, yours