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The Complete Idiot's Guide® To Accounting by Lita Epstein, Shellie L. Moore

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Recording Equities

The accounts that reflect the net worth of the business are the equity accounts. Essentially the accounts in the equity section of the balance sheet track the value of things owned by the shareholders. These accounts appear after the liability section on the balance sheet. A computerized program will number these accounts in the range of 3000 to 3999.
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BUSINESS BITES
Old accountants never die. They just lose their balance.
Here are key equity accounts:
Common Stock (3100) This account reflects the value of outstanding shares of stock. Each share of stock represents a portion of ownership. The number of shares issued is ...

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