I am selling 50% of my company to another company. We are a corporation and as such I assume that they are purchasing 50% of the common stock.

Question is?

Does this mean that everything is simply assumed like accounts receivable and accounts payables (assets) or should the receivables and payables be brought up to date before the final close?

As such, the % of ownership prior to buyout is 100% and then changes to 50% thereafter. Is that correct.

Please advise? Thank you

Joe

3 partners share income and loss in a 1:5:4 ratio, how do you allocate a 29,000 loss