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Chapter 15
Financial Statements for a Corporation
11
Accounting
11th Grade
04/15/2011

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Term
Net sales
Definition
total sales less sales discount and sales returns and allowances
Term
cost of merchandise sold
Definition
he total original price of all merchandise sold during a fiscal period
Term
gross profit on sales
Definition
the revenue remaining after cost of merchandise sold has been deducted
Term
financial ratio
Definition
a comparison between two items of financial information
Term
earnings per share
Definition
the amount of net income after federal income tax belonging to a single share of stock
Term
price-earnings ratio
Definition
the relationship between the market value per share and earnings per share of a stock
Term
statement of stockholders' equity
Definition
a financial statement that shows changes in a corporation's ownership for a fiscal period
Term
par value
Definition
a value assigned to a share of stock and printed on the stock certificate
Term
current liabilities
Definition
liabilities due within a short time, usually within a year.
Term
long-term liabilities
Definition
liabilities owed for more than a year.
Term
supporting schedule
Definition
a report prepared to give details about an item on a principal financial statement
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