11 terms

Accounting 1 Ch.15

STUDY
PLAY

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 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