For the balance sheet, do we start off all accounts with 0s or do we transfer all numbers from the LLC's balance sheet? Will retained earnings be 0? This will also be the final return for the s corp since business was closed in December. All assets have been sold and Turbo Tax helped me put in that info. Balance Sheet Example Download. Download our free balance sheet example PDF and Excel spreadsheet. The balance sheet is one of the key financial statements that you should review regularly—at least once a month. Jun 16, 2019 · Once you have put money into the LLC, your capital contribution, and the contributions of other members is shown in the LLC's balance sheet as an equity account. The member's capital account records the initial contribution and any additional contributions made. A Balance sheet is a snapshot of the company’s financial position at a specified time. Usually, the Balance Sheet is prepared after every quarter, six months or one year. Balance Sheet Excel Template. I have created a Balance Sheet Template that summarizes the company’s assets, liabilities, and equity.