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Lehtma- Ch. 11 Vocabulary
Ch. 11 Vocab
31
Accounting
12th Grade
11/05/2013

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Cards

Term
Corporation
Definition
An organization with the legal rights of a person and that may be owned by many persons
Term
Board of Directors
Definition
A group of persons elected by the stockholders to manage a corporation
Term
Articles of Incorporation
Definition
A written application requesting permission to form a corporation
Term
Stock Certificate
Definition
Written evidence of the number of shares that each stockholder owns in a corporation
Term
Stated Value Stock
Definition
No par value stock that is assigned a value by a corporation
Term
No Par Value Stock
Definition
A share of stock that has no authorized value printed on the stock certificate
Term
Amortization
Definition
Depreciation for intangible assets
Term
Intangible Assets
Definition
Assets of a nonphysical nature that have value for a business
Term
Declaring a Dividend
Definition
Action by a board of directors to distribute corporate earnings to stockholders
Term
Common Stockholders
Definition
Owners of common stock
Term
Preferred Stockholders
Definition
Owners of preferred stock
Term
Dividends
Definition
Earnings distributed to stockholders
Term
Dividends Payable
Definition
Dividends that a company's board of directors has declared to be payable to its shareholders
Term
Capital Stock- Common
Definition
Account used to record when common stock is fully paid for
Term
Subscribing for Capital Stock
Definition
Entering into an agreement with a corporation to buy capital stock and pay at a later date
Term
Common Stock
Definition
Stock that doesn't give stockholders any special preferences
Term
Preferred Stock
Definition
Stock that gives stockholders preference in earnings and other rights
Term
Date of Declaration
Definition
The date on which a board of directors votes to distribute a dividend
Term
Date of Record
Definition
The date that determines which stockholders are to receive dividends
Term
Date of Payment
Definition
The date on which dividends are actually to be paid to stockholders
Term
Subscriptions Receivable
Definition
Account showing the unpaid amount of all subscriptions
Term
Capital Stock- Preferred
Definition
Account used to record when preferred stock is fully paid for
Term
Stock Dividend
Definition
A dividend payment made in the form of additional shares
Term
Organization Costs
Definition
Fees and other expenses of organizing a corporation
Term
Par Value
Definition
A value assigned to a share of stock and printed on the stock certificate
Term
Stock Subscribed- Common
Definition
Account that shows the total amount of common stock subscribed but not issued
Term
Round Lot
Definition
A group of 100 shares, or any group of shares that can be evenly divided by 100
Term
Charter
Definition
The approved articles of incorporation
Term
Retained Earnings
Definition
An amount earned by a corporation and not yet distributed to stockholders
Term
Stock Split
Definition
Splitting stockholders' stock and its value
Term
Odd Lot
Definition
A number of shares other than 100 and not evenly divisible by 100
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