I am sorry, this is the 1st time I am posting a question and was confused by whether this answer was in direct reply to my own question. I see that it WAS NOT. I am asking how to set up an account in the equity section of the balance sheet for non taxable income. This is where I will put the amount that has been forgiven for the PPP loan. I do not need advice on how to book an entry or whether this is the proper accounting treatment. I merely need to know how to set up this account in the equity section of the balance sheet. Thank you,...
