1. Should capital stock be subaccounted per shareholder?
2. How to account for additional capital contributions during the lifetime of the corporation? Should I set up separate account for that? Should it be subaccounted per shareholder? (Assuming that all subsequent capital contributions will be made in proportion to original stock ownership).
3. How to account for owner draws (distributions)? Just debit Retained Earnings or to create a separate account for that purpose (with subaccounts per shareholders)? If there is a separate account for distributions, how to deal with ever-accumulating negative balance on it?
Thanks in advance!