Thank you for the response. I am unfortunately still a little confused.
I am not sure what is meant by "capital accounts". Does it mean the "Retained Earnings" line?
When the assets get distributed to the shareholders, is that somehow reflected in the Liabilities section of the Balance sheet?
Am I correct in understanding that "Ending balances should ALL be zero" means that every single line in the balance sheet should be zero, not just the Totals? There shouldn't be any values other than zero anywhere in the End of Year Balance columns.
Thank you again, I really do appreciate the help. I have been trying to figure this out for two weeks.
