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A privately-held California corporation (C-Corp), very thin-capitalized, has had net losses for the last few years and now cumulative deficit (i.e. negative retained earnings) is about to more than offset the owner's contributed capital, which will lead the company to a situation where the...

Hi all, I have a pretty basic question. I am an accountant for my employer locatd in California and from time to time get invoices from our leasing compoanies that include late fees reflecting delayed monthly equipment lease payments in the prior month. Depending on leases, the late fee can be...