turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

rogue
Returning Member

Dissolving a subsidiary and parent account balance sheet negative balance

I need to dissolve both, subsidiary account and parent account. 

First, the bank accounts were open until January 2019? but business closed 2018. Do I need to wait EOY 2019, to zero out balance sheet?

Second, once that is clear, where do I start.

Third, what journal entries need to be made in QB to zero out balance sheet considering the fact that the balance is currently negative, including cash account. Also, debts were forgiven, including rent, equipment was given as payment to landlord, no assets left. 

Let me know if you need any additional information. 

@Le @RO 

 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Dissolving a subsidiary and parent account balance sheet negative balance

What, exactly, are you trying to accomplish with respect to TurboTax? With respect to QuickBooks, you might want to try posting a message on that board (link below).

 

https://quickbooks.intuit.com/learn-support/forums/recentpostspage/

rogue
Returning Member

Dissolving a subsidiary and parent account balance sheet negative balance

Thank you. Will post there then.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies