82. Match the accounting terms with the description by entering the proper number.
1. Stock that conveys to its owners the right to receive 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
Subscribers’ ledger
2. 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 class of stock, and the number of shares
Convertible preferred stock
3. Stock that conveys the right not only to the preference dividend amount but also to a share of other dividends paid
Preference dividend
4. The general class of stock issued when no other class of stock is authorized; each share carries the same rights and privileges as every other share. Even if preferred stock is issued, common stock will also be issued
Nonparticipating preferred stock
5. A person or institution in charge of the issuance and transfer of a corporation’s stock
Transfer agent
6. Distributions of the profits of a corporation to its shareholders
Organization costs
7. Provides limited liability to the owners, who can elect to have the profits taxed at the LLC level or on their individual tax returns
Corporate charter
8. Preferred stock that conveys the right to convert that stock to common stock after a specified date or during a period of time
Par value
9. A list of the stock subscriptions received
Participating preferred stock
10. 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 pays no income tax
Subscription book
11. A document issued by a state government that establishes a corporation
Preemptive right
12. A partnership that provides limited liability for all partners
Cumulative preferred stock
13. Stock that conveys to its owners the right to only the preference dividend amount specified on the stock certificate
Dividends
14. The value that can be assigned to no-par-value stock by a board of directors for accounting purposes
Limited liability company (LLC)
15. The corporate equivalent of owners’ equity; also called shareholders’ equity
Bylaws
16. A person or institution that handles all stock transfers and transfer records for a corporation
Common stock
17. Stock that gives the issuing corporation the right to repurchase the preferred shares from the stockholders at a specific price
Authorized capital stock
18. A subsidiary ledger that contains an account receivable for each stock subscriber
Limited liability partnership (LLP)
19. A book in which accurate and complete records of all meetings of stockholders and directors are kept
Callable preferred stock
20. A shareholder’s right to purchase a proportionate amount of any new stock issued at a later date
No-par-value stock
21. A subsidiary ledger that contains a record of each stockholder’s purchases, transfers, and current balance of shares owned; also called stockholders’ ledger
Preferred stock
22. A record of stock transfers used for posting to the stockholders’ ledger
Registrar
23. 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
Shareholder
24. A class of stock that has special claims on the corporate profits or, in case of liquidation, on corporate assets
Stockholders’ equity
25. A person who owns shares of stock in a corporation; also called a stockholder
Stock certificate
26. Another term for capital stock ledger
Stated value
27. The number of shares authorized for issue by the corporate charter
Capital stock transfer journal
28. An amount assigned by the corporate charter to each share of stock for accounting purposes
Liquidation value
29. Stock that conveys to its owners the stated preference dividend for the current year but no rights to dividends for years in which none were declared
Market value
30. A basic or stated dividend rate for preferred stock that must be paid before dividends can be paid on common stock
Capital stock ledger
31. The costs associated with establishing a corporation
Stockholders’ ledger
32. Stock that is not assigned a par value in the corporate charter
Capital stock ledger
33. The price per share at which stock is bought and sold
Noncumulative preferred stock
34. The guidelines for conducting a corporation’s business affairs
Subchapter S corporation (S)
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