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    pilarahman's Avatar
    pilarahman Posts: 1, Reputation: 1
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    #1

    Feb 22, 2012, 04:50 PM
    How to close assets and equities on s corp. Going out of business
    I know the Balance Sheets should be zero; so far, I don't have AR, neither Fixed Assets. Could somebody help me with the other entires? Banks, Cash, and mostly the Capital Account (2 members only; the retained Earnings, and there is only loss in the P&L. Thank You.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    Feb 23, 2012, 07:10 PM
    Quote Originally Posted by pilarahman View Post
    ... Could somebody help me witht he other entires? Banks, Cash, and mostly the Capital Account (2 members only; the retained Earnings, and there is only loss in the P&L. Thank You.

    I never took a formal accounting course, just picked stuff up here and there. Quickbooks organizes it quite well, if you have access to that.

    Bank accounts and cash accounts seem fairly straightforward.

    Maybe this will help.
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