Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

initial surplus

Read a random definition: reserved land

A quick definition of initial surplus:

Initial surplus is the extra money a company has at the beginning of an accounting period, but it doesn't come from the company's operations during that period. It's like having some extra money in your piggy bank before you start earning your allowance. This surplus can come from things like selling stock for more than it's worth or receiving donations. It's important to keep track of this surplus because it can affect a company's financial health and decisions about how to use the money.

A more thorough explanation:

Initial surplus is the surplus that appears on a financial statement at the beginning of an accounting period. It does not reflect the operations for the statement's period.

  • If a company has $10,000 in surplus at the end of the year and $2,000 in initial surplus at the beginning of the year, the total surplus for the year is $12,000.
  • When a new business starts, it may have initial surplus from the investments made by the owners or investors.

The examples illustrate that initial surplus is the surplus that exists before any operations or transactions take place during a specific period. It is important to differentiate initial surplus from the surplus gained from the operations of the business during the period.

initial public offering | initiation of charges

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
shaquilleoatmeal
17:40
anyone apply to bu and if so do you have a sub status ??
JumpySubsequentDolphin
17:42
@1a2b3c4d26z: did you pick a color
1a2b3c4d26z
17:43
wdym
1a2b3c4d26z
17:43
OH
1a2b3c4d26z
17:43
Purple
@shaquilleoatmeal: yeah both my status and substatus say application complete
1a2b3c4d26z
17:44
I discreetly asked her which color she liked best when the new ones dropped and she said purple, I just wanted to hear second opinions
shaquilleoatmeal
17:44
@Eminatorcookieeater: same and my sub status was blank yesterday - trying to research what it means
@shaquilleoatmeal: ooo I wonder what that means, hopefully it means we'll hear back soon
shaquilleoatmeal
17:48
It looks like an update to the sub status (it saying complete instead of being blank) means some sort of review has happened - basically a UR2. Seems like those who got a substatus change got a decision a few days after...
shaquilleoatmeal
17:50
slightly helpful! Not much info on the substatus changes for BU though
i don't have a sub status but i was only marked complete like two weeks ago
cause they wanted me to send another transcript
is that wake forest a from last cycle i am so confused
shaquilleoatmeal
17:51
@jackfrost11770: oo interesting - I first went complete 10/25 and now the sub 11/5
shaquilleoatmeal
17:51
wonder if they'll ask for me for more info but can't think of what it would be
17:54
berk…..
shaquilleoatmeal
17:58
what about berk
18:01
i need wave
shaquilleoatmeal
18:04
call them and demand one
@shaquilleoatmeal: did you get double app complete on sub status or just one
letsseehowitgoesnow
18:11
shaq i got that for BU
shaquilleoatmeal
18:13
@Eminatorcookieeater: just one
shaquilleoatmeal
18:14
@letsseehowitgoesnow: lfg!
shaquilleoatmeal
18:14
@Eminatorcookieeater: did you get one or double??
Just one sadly
letsseehowitgoesnow
18:15
I doubt it means anything. I applied like 2 weeks ago lol
letsseehowitgoesnow
18:16
Actually nvm. I don’t have that lol
LSD+ is ad-free, with DMs, discounts, case briefs & more.