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hopeaccounting
Nov 24, 2007, 07:05 PM
After all the physical assets of a small corporation have been sold and the sale recorded, and it's time to dissolve the corporation, what entries need to be made to "write-off" the common stock($5k) and additional paid-in capital ($18K) still on the books? Would these write-offs appear anywhere on Form 1120 and related forms?