Sales :

Sales are total revenues from goods or services sold or provided to customers. Sales may be cash sales or credit sales

Salary :

The money paid for employee services

Sale on account :

A sale for which cash will be received at a later date

Sales allowance :

Credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor’s accounts receivable

Sales budget schedule :

A statement that shows the projected net sales for a budget period Sales discount - a cash discount on sales.

Salvage Value :

The estimated value that an asset will realize upon its sale at the end of its useful life. The value is used in accounting to determine depreciation amounts and in the tax system to determine deductions.

Sales invoice :

An invoice used as a source document for recording a sale on account

Sales mix :

Relative distribution of sales among various products

Sales return :

Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor’s accounts receivable

Sales tax :

A tax on a sale of merchandise or services

Schedule of accounts payable :

A listing of vendor accounts, account balances, and total amount due all vendors

Schedule of accounts receivable :

A listing of customer accounts, account balances, and total amount due from all customers

Selling expenses schedule :

A statement prepared to show projected expenditures related directly to the selling operations

Serial bonds :

Portions of a bond issue that mature on different dates

Share of stock :

Each unit of ownership in a corporation

Sunk costs :

Money already spent and gone, which will not be recovered no matter what course of action is taken. Bad decisions are made when managers attempt to recoup sunk costs.

Single Entry :

Where only one effect or aspect of a financial transaction is recorded .

Sight draft :

A draft payable on sight when the holder presents it for payment.

Social security tax :

A federal tax paid for old-age, survivors, and disability insurance

Source document :

A business paper from which information is obtained for a journal entry

Special amount column :

A journal amount column headed with an account title

Special endorsement :

An endorsement indicating a new owner of a check

Special journal :

A journal used to record only one kind of transaction

State unemployment tax :

A state tax used to pay benefits to unemployed workers

Stated-value stock :

No-par-value stock that is assigned a value by a corporation

Statement of cash flows :

A statement that summarizes cash receipts and cash payments resulting from business activities during a fiscal period

Statement of cost of goods manufactured:

A statement showing details about the cost of finished goods

Stock certificate :

Written evidence of the number of shares each stockholder owns in a corporation

Stock ledger :

A file of stock records for all merchandise on hand

Stock record :

A form used to show the kind of merchandise, quantity received, quantity sold, and balance on hand

Stockholders’ equity :

value of the owners’ equity in a corporation

Straight-line method of depreciation :

Charging an equal amount of depreciation expense for a plant asset in each year of useful life

Subscribing for capital stock :

Entering into an agreement with a corporation to buy capital stock and pay at a later date

Subsidiary ledger :

A ledger that is summarized in a single general ledger account

Supporting schedule :

A report prepared to give details about an item on a principal financial statement

Stock :

Stock is a measure of something on hand-goods spares and other items into the business

Staffing :

All costs related to employing staffs

Subtotal :

The total amounts in sub category

Surplus :

Being more than or in excess of what is needed or required