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December 20, 2021
Question

setting up accounts for redemption of S-Corp stock. I created a long-term liability account for the loan, but don't know where to put the offsetting equity account

  • December 20, 2021
  • 1 reply
  • 3 views

Our S-Corp is paying for a forced redemption of a shareholder's stock.  I set up a long-term liability account for the payments, but don't know what the offsetting equity? account would be

1 reply

Rustler
Level 15
December 21, 2021

Retained earnings