Equity and Draw for an LLC (S Corp)

[Kash]

These are general accounting questions. A good source for the answer to 
these and the questions you've got coming is:
accountingcoach.com

On 11/9/2012 11:59 AM, Ben Ba wrote:
> Hi Dear list,
> Two partners started a taxi company. Registered as an LLC and elected the S
> Corp Status.
> GnuCash permits to track Equity.
>
> How to start the books with GnuCash?
> Partners bought two cars which cost $20 000. Where and how to register it
> with gnucash?
> Is it going to be:
> Equity ->Assets
>
> or perhaps
> Liability -> Assets
>
> or maybe Liability -> Expense
>
> Thank you for any hints.
>