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33 Cards in this Set

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  • Back
authorized stock
the amount of stock that a corporation is authorized to sell as indicated in its charter
By-laws
the internal rules and procedures for conducting the affairs of a corporation
cash dividend
a pro rata distribution of cash to stockholders
charter
a document that creates a corporation
common stock
capital stock that is voting stock of a corporation
corporation
a business organized as a legal entity separate and sidtinct from its owners under state corporation law
corporate capital
the owners' ewuity in a corporation. Also called stockholders' equity of shareholders' equity
cumulative dividend
a feature of preffered stock entitling the stockholder to receive current and unpaid prior-year dividends before common stockholders receive any dividends
declaration date
the date the board of directors formally declares the dividend and announces it to stockholders
deficit
a debit balance in retained earnings
dividend
a distribution by a corporation to its stockholders on a pro rata basis
legal capital
the amound per share of stock that must be reatined in a business for the protection of corporate creditors
liquidating dividend
a dividend declared out of paid in capital
no-par value stock
capital stock that has not been assigned a value in the corporate charter
organization costs
costs incurred in the formation of a corporation
outstanding stock
capital stock that has been issued and is being held by stockholders
paid in capital
legal capital plus contributed capital in excess of par or stated value
par value stock
capital stock that has been assigned a value per share in the corporate charter
payment date
the date dividend checks are mailed to stockholders
preferred stock
capital stock that has contractual preferences over common stock in certain areas
prior period adjustment
the correction of an errir in previously issued financial statements
privately held corporation
a corporation that has only a few stockholders and whose stock is not available for sale to the general public
publicly held corporation
a corporation that may have thousands of stockholders and whose stock is regularly traded on a national securities exchange
record date
the date when ownership of outstanding shares is determined for dividend purposes
retained earnings
net income that is retained in the business
retained earnings restrictions
circumstances that make a portion of retained earnings currently unavailable for dividends
retained earnings statement
a financial statement that shows the changes in retained earnings during the year
return on common stockholders equity ratio
a ration that measures profitablility from the stockholders point of view. It is computed by dividing net income available to common stockholders by average common stockholders equity
stated value
the amount per share assigned by the board of directors to no-par stock that becomed legal capital per share
stock dividend
a pro rata distribution of the corporation's own stock to stockholders
stock split
the issuance of additional shares of stock to stockholders accompanied by a reduction in the par or stated value per share
stockholders equity statement
a statement that shows the charges in each stockholders equity account and in total stockholders equity during the year
treasury stock
a corporation's own stocks that has been issued, fully paid for, and reacquired by the corporation by not retired