Term
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Definition
| an amount earned by a corporation and not yet distributed to stockholders |
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Term
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Definition
| earnings distributed to stock-holders |
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Term
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Definition
| a group of persons elected by the stockholders to manage a corporation |
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Term
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Definition
| action by a board of directors to distribute corporate earnings to stockholders |
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Term
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Definition
| the amount of goods on hand for sale to customers |
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Term
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Definition
| accounts receivable that cannot be collected. |
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Term
| allowance method of recording losses from noncollectable accounts |
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Definition
| crediting the estimated value of uncollectible accounts to a contra account |
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Term
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Definition
| the difference between an asset's account balance and its related contra account balance |
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Term
| book value of accounts receivable |
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Definition
| the difference between the balace of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts. |
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Term
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Definition
| cash and other assets expected to be exchanged for cash or consumed within a year |
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Term
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Definition
| assets that will be used for a number of years in the operation of a business |
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Term
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Definition
| the portion of a plant asset's cost that is transferred to an expense account in each fiscal period during a plant asset's useful life |
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Term
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Definition
| the amount an owner expects to receive when a plant asset is removed from use |
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Term
| straight line method of depreciation |
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Definition
| charging an equal amount of depreciation expense for a plant asset in each year of useful life. |
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Term
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Definition
| the total amount of depreciation expense that has been recorded since the purchase of a plant asset. |
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Term
| book value of a plant asset |
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Definition
| the original cost of a plant asset minus accumulated depreciation |
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