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 stockholders. |
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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 uncollectible accounts |
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Definition
| Crediting the estimated value of uncollectible accounts to a contra account. |
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Term
| book value of accounts receivable |
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Definition
| The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts. |
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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
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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 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 origianl cost of a plant asset minus accumulated depreciation. |
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