Chapter 15--Financial Statements for a Corporation
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11 terms
Terms | Definitions |
|---|---|
 Net Sales | Total sales less sales discount and sales returns and allowances |
| Cost of Merchandise Sold | The original price of all merchandise sold duringa fiscal period |
| Gross Profit on Sales | The revenue remaining after cost of merchandise sold has been deducted |
| Financial Ratio | A comparison between two items of financial information |
| Earnings Per Share | The amount of net income after federal income tax belonging to a single share of stock |
| Price-Earnings ratio | The relationship between the market value per share and earnings per share of a stock |
| Statement of Stockholder's Equity | A financial statement that shows changes in a corporation's ownership for a fiscal period |
| Par Value | A value assigned to a share of stock and printed on the stock certificate |
| Current Liabilities | Liabilities due within a short time, usually a year |
| Long-Term Liabilities | Liabilities owed for more than a year |
| Supporting Schedule | a report prepared to give details about an item on a principal financial statement |
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