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Get this and more like it right on our blog: https://nerdenterprises.com/equity-in... Subscription Options: https://nerdenterprises.com/services/... One to One Training: https://nerdenterprises.com/services/... Get templates: https://nerdenterprises.com/resources... Index 00:29 Start of the video 00:45 What is the value of your business? 02:15 Standard accounts of equity 03:10 Creating new chart of accounts and subaccounts 06:40 Importance of consistency 08:30 Creating an invoice 08:50 Running and analyzing a profit and loss report 09:12 Running and analyzing the balance sheet 14:49 Crossing over to next year, analyze balance sheet on the new retained earnings 10:57 Demonstrating journal entry on retained earning and distributing to owners capital accounts 12:07 Showing 10:57 on the balance sheet with 0 retained earnings 12:30 Can you also take a distribution from retained earnings? This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Nerd Enterprises, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Nerd Enterprises, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.