Sole Prop to Corporation adjustments

What type of corporation?  If truly an S or C there should be a sale of personal (sole prop) assets into the corporation and the corporate entity has a new and different tax ID and as such really there should be the initiation of a new company file and not just a continuation of the existing.  But, in a nutshell, in my OPINION, and "free" advice you have to close out all personal equity as of 12/31/18 and then post that equity out to initial ownership in the new entity.  It makes a big difference if a true corp with shares and shareholder ownership as there is no longer owner equity contribution but would be sale of stock to the new owner for the value of A/R and assets provided.

Going from Sole Prop to single member LLC is a little simpler, moving values from Owner Equity to Member Equity and since the pass through of profit or loss is identical

Thank you so much for your free advice. Yes, that is what I thought and I had advised client to start a new accounting since they formed a new corporation. I just wanted to make sure the adjustments I do are done correctly.