What is Accumulated Surplus?

Legal Definition
In statutes relative to the luxation of corporations. this term refers to the fund which the company has in excess of its capital and llabill-ties. Trenton Iron Co. v. Yard, 42 N. J. Law, 357; People's F. Ins. Co. v. Parker, 35 N. J. Law, 575 ; Mutual Ben. L. Ins. Co. v. Utter, 34 N. J. Law, 489; Mills v. Britton, 64 Co.nn. 4, 29 Atl. 231, 24 In R. A. 536.
-- Black's Law Dictionary