closing "C" Corporation

[Ismail9491]

A client sold the Assets of his "c" corporation and retimed the name. He still has a large amount in Retained Earnings, and has some cash in his bank Account. He wants to close the "c" Corp which does not have any other assets or liabilities.

What would happen to the Retained Earnings? What about if he does not have enough cash to withdraw it?

Thanks

[sjrcpa]

Cash should equal Retained Earnings if there are no other assets or liabilities.

Got a Balance Sheet?

[Ismail9491]

Can he Mark the return as a final even though there is still Retained earnings, and pay dividends later whenever he draws dividends.

Thanks