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Retained Earnings
An amount earned by a corporation and not yet distributed to stockholders
Dividends
Earnings distributed to stockholders
Board Of Directors
A group of persons elected by the stockholders to manage a corporation
Declaring Dividends
Action by a board of directors to distribute corporate earnings to stockholders
Merchandise Inventory
The amount of goods on hand for sale to customers
Uncollectible Accounts
Accounts receivable that cannot be collected
Allowance Method for Recording Losses From Uncollectible Accounts
Crediting the estimated value of uncollectible accounts to a contra account
Book Value
The difference between an asset's account balance and its related contra account balance
Book Value of Accounts Receivable
The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts
Current Assets
Cash and other assets expected to be exchanged for cash or consumed within one year
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