On October 13 my sole proprietorship changed to an Member managed LLC, with my wife and myself as the members 51% her/49% me. I was instructed to start new books for the LLC to keep the accounting clean. When I book the beginning entries of assets and liabilities from the sole proprietorship, does my members equity include the net profits from the sole proprietorship 's owner's capital account? What can be included in members equity of the new LLC? Thank you
USA Booking beginning entries for a Sole Proprietor changing entity to an LLC (husband and wife member operated)
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