11 terms

Chapter 15 -- Financial Statements for a Corporation


Terms in this set (...)

net sales
total sales less sales discount and sales returns and allowances
cost of merchandise sold
the original price of all merchandise sold during a 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 stockholders' equity
a financial statement that shows changes in a corporation's ownership for a fiscal period
par value
value assigned to a share of stock and printed on the stock certificate
current liabilities
liabilities due within a short time, usually within 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