Acct Chapter 20 Vocab

Front 1

The number of shares authorized for issue by the corporate charter

Back 1

Authorized capital stock

Front 2

The guidelines for conducting a corporation's business affairs

Back 2

Bylaws

Front 3

Stock that gives the issuing corporation the right to repurchase the preferred shares from the stockholders at a specific price.

Back 3

Callable preferred stock

Front 4

A subsidiary ledger that contains a record of each stockholder's purchases, transfers, and current balance of shares owned; also called stockholder's ledger

Back 4

Captial stock ledger

Front 5

A record of stock transfers used for posting to the stockholder's ledger

Back 5

Capital stock transfer journal

Front 6

The general class of stock issued when no other class of stock is authorized; each share carries the same rights and privilages as every other share

Back 6

common stock

Front 7

preferred stock that conveys the right to convert that stock to common stock after a specificed date or during a period of time

Back 7

convertible preferred stock

Front 8

A document issued by a state government that establishes a corporation

Back 8

corporate charter

Front 9

stock that conveys to its owners the right to recieve the preference dividend for the current year and any prior years in which the preference dividend was not paid before common stockholders receive any dividends

Back 9

cumulative preferred stock

Front 10

distributions of the profits of a corporation to its shareholders

Back 10

dividends

Front 11

Provides limited liability to the owners , who can elect to have the profits taxed at the LLC level or on their individual tax returns

Back 11

Limited liability company

Front 12

A partnership that provides limited liability for all partners

Back 12

Limited Liability Partnership

Front 13

Value of assets to be applied to preferred stock, usually par value or an amount in excess of par value, if the corporation is liquidated

Back 13

Liquidation Value

Front 14

The price per share at which stock is bought and sold

Back 14

Market Value

Front 15

A book in which accurate and complete records of all meetings of stockholders and directors are kept

Back 15

Minute book

Front 16

Stock that conveys to its owners the stated prefrence dividend for the current year but no rights to dividends for years in which none were declared

Back 16

Noncumulative preferred stock

Front 17

Stock that conveys to its owners the right to only the prefrence dividend amount specificed on the stock certificate

Back 17

Nonparticipating preferred stock

Front 18

Stock that is not assigned a par value in the corporate charter

Back 18

No-par-value stock

Front 19

The costs associated with establishing a corporation

Back 19

Organization costs

Front 20

An amount assigned by the corporate charter to each share of stock for accounting purposes

Back 20

Par value

Front 21

Stock that conveys the right not only to the prefrence dividend amount but also to a share of other dividends

Back 21

Participating preferred stock

Front 22

A shareholder's right to purchase a proportionate amount of any new stock issued at a later date

Back 22

Preemptive right

Front 23

A basic or stated dididend rate for preferred stock that must be paid on common stock

Back 23

Prefrence dividend

Front 24

A class of stock that has special claims on the corporate profits or, in case of liquidation, on corporate assets

Back 24

Preferred stock

Front 25

A person or institution in charge of the issuance and transfer of a corporation's stock

Back 25

Registrar

Front 26

A person who owns shares of stock in a corporation; also called a stockholder

Back 26

Shareholder

Front 27

The value that can be assigned to no-par-value stock by a board of directors for accounting purposes

Back 27

Stated value

Front 28

The form by which capital stock is issued; the certificate indicates the name of the corporation, the name of the stockholder to whom the certificate was issued, the call of stock, and the number of shares

Back 28

Stock certificate`

Front 29

The corporate equivalent of owners' equity; also called shareholders equity

Back 29

Stockholder's equity

Front 30

An entity formed as a corporation that meets the requirements of subchapter s of the internal revenue code to be treated essentially as a partnership, so that the corporation pay no income tax

Back 30

Subchapter S corporation

Front 31

A subsidary ledger that contains an account recivable for each stock subscriber

Back 31

Subscribers' ledger

Front 32

A list of the stock subscriptions received

Back 32

Subscription book

Front 33

a person or institution that handles all stock transfers and transfer records for a corporation

Back 33

Transfer agent