11 terms

Accounting 1 Ch.15

STUDY
PLAY
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 coporations ownership
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 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