Accounting Ch.13

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Preferred stock

Stock with a priority status over common stockholders
in one or more ways, such as paying dividends or distributing
assets.

Retained earnings

Cumulative income less cumulative losses and dividends.

Small stock dividend

Stock dividend that is 25% or less of a corporation's
previously outstanding shares.

Stated value stock

No-par stock assigned a stated value per share; this
amount is recorded in the stock account when the stock is issued

Stock dividend

Corporation's distribution of its own stock to its stockholders
without the receipt of any payment

Stock split

Occurs when a corporation calls in its stock and replaces
each share with more than one new share; decreases both the market
value per share and any par or stated value per share

Treasury stock

Corporation's own stock that it reacquired and still
holds

Stockholders' equity

A corporation's equity; also called shareholders'
equity or corporate capital

Authorized stock

Total amount of stock that a corporation's charter authorizes
it to issue

Capital stock

General term referring to a corporation's stock used in
obtaining capital (owner financing).

Common stock

Corporation's basic ownership share; also generically
called capital stock

Corporation

Business that is a separate legal entity under state or
federal laws with owners called shareholders or stockholders.

Cumulative preferred stock

Preferred stock on which undeclared dividends
accumulate until paid; common stockholders cannot receive dividends
until cumulative dividends are paid.

Date of declaration

Date the directors vote to pay a dividend

Date of payment

Date the corporation makes the dividend payment

Date of record

Date directors specify for identifying stockholders to
receive dividends.

Dividend in arrears

Unpaid dividend on cumulative preferred stock;
must be paid before any regular dividends on preferred stock and before
any dividends on common stock.

Large stock dividend

Stock dividend that is more than 25% of the previously
outstanding shares

Organization expenses (costs)

Costs such as legal fees and promoter
fees to bring an entity into existence.

paid-in capital

Total amount of cash and other assets received from
stockholders in exchange for stock

Paid-in capital in excess of par value

Amount received from issuance
of stock that is in excess of the stock's par values

Par value

Value assigned a share of stock by the corporate charter when
the stock is authorized

Par value stock

Class of stock assigned a par value by the corporate
charter

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