How journal dissolving a Sub-chapter S?

[CodeSlinger]

I'm a new GC user on Win7, and think GC is great, as I disliked QuickBooks
for various reasons. I am also currently organized as a Subchapter-S that is
idle since I am working full time for another company that I am part owner
in. I am considering dissolving (and later just being a SP or maybe an LLC).
I took no pay or dividends in 2012 or 2013, and just pay but no dividends in
2011 and all payroll for 2011 were paid. So after paying corporate taxes for
2012 this week, assets will consist of retained earnings (checking) and
fixed assets of some furniture/equipment (expensed for 2011), and the car
and negative accumulated depreciation related to the car.

If I dissolve the corporation, and want to close the books, what should
happen to the assets from an accounting standpoint? Presumably the books
need to have new account entries made so that Equity, Assets and Liabilities
are all 0. Since taxes will be paid on the 2012 company income that was not
distributed, by flow through to my personal return, I presume the company
assets are returned back to the shareholder (me) as return of capital. Will
there be any there further taxes, or reclaimed depreciation due given that I
did not distribute any 2012 earnings as dividends or pay, and because I
expensed the assets? And especially not sure about how to handle the
negative accumulated depreciation. Thanks for any guidelines here, Dave




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