| A | B |
|---|
| Accumulated Depreciation | The total amount of depreciation expense that has been recorded since the purchase of a plant asset. |
| Allowance Method of Recording Losses from Uncollectible Accounts | Crediting the estimated value of uncolletible accounts to a contra account. |
| Board of Directors | A group of persons elected by the stockhodlers to manage a corporation. |
| Book Value | the difference between an asset's account balance and its related contra account balance. |
| Book Value of a Plant Asset | The original cost of a plant asset minus accumulated depreciation. |
| Book Value of Accoutns Receivable | The difference between the balance of Account sReceivable and its contra account, Allowance for Uncollectible Accounts. |
| Current Asset | Cash and other assets expected to be exchanged for cash or consumed within a year. |
| Declaring a Dividend | Action by a board of directors to distribute corporate earnign to stockholders. |
| Depreciation Expense | the portion of a plant asset's cost taht is transferred to an expense account in each fiscal period during a plant asset's life. |
| Dividends | Earnign distributed to stockholders. |
| Estimated Salvage Value | The amount an owner expects to receive when a plant asset is removed from use. |
| Merchandise Inventory | The amount of goods on hand for sale to customers. |
| Plant Assets | Assets taht will be used for a number of years in the operation of a business. |
| Retained Earnings | An amount earned by a corporation and not yet distributed to stockholders. |
| Straight-line Method of Depreciation | Charging an equal amount of depreciation expense for a plant asset in each year of useful life. |
| Uncollectible Accounts | Accounts receivable that cannot be collected. |
