UNT - HMGT 2280 - Class Notes - Week 3
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Stockholders’ Equity
Common Stock (Investments by Stockholders)
Retained earnings (Net Income retained in business)
dividends
Net Income or Net loss (Revenues less expense)
Hospitality Financial Accounting
Week 3 Chapter 3
Debit & Credit
Never write negative or positive on debit side
Never write negative or positive on credit side
o Debits: increase assets, decrease liabilities, decrease common
stock, decrease retained earnings, increase dividend, decrease revenue, increase expenses o Credits: decrease assets, increase liabilities, increase common stock, increase retained earnings, decrease dividends, increase
revenue, decrease expenses. Debit = credit Definitions: Credit: the right side of an account Debit: the left side of an account An account consists of three parts: o Title of the account,
o A left, or debit, side,
o And a right, or credit, side
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School: University of North Texas
Department: Hospitality
Course: Hospitality Accounting
Professor: Jeff Britain
Term: Spring 2019
Tags: UNT, HospitalityFinancialAccounting, Accounting, and JeffBritain
Name: Hospitality Financial Accounting
Description: chapter 2-3, week 3
Uploaded: 02/04/2019
48
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