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Accounting & Bookkeeping & Small Business Forum
Accounting, Bookkeeping, Marketing, and Small Business Resource
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Guest
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| Posted: Fri Jul 16, 2004 11:13 am Post subject: Entries for first S Corp Owner Disbursments |
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We have just issued the first distribution of income to our stockholders of an S Corp. What entries do I make to record this distribution?
I was told that I needed to set up a distribution account for each stockholder, but I'm not sure what kind of account that should be? Can someone help me please! |
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Guest
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| Posted: Fri Jul 16, 2004 12:13 pm Post subject: RE: Entries for first S Corp Owner Disbursments |
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| Create an account in the Equity/Capital Section entitled "Distribution of Equity - Stockholder #1" for each stockholder. The distributions should be written TO the stockholder, and be based on an amount per share. All stockholders should receive an equitable distribution. |
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