Ask Experts Questions for FREE Help!
 
Free Answers in 3 Easy Steps

Register Now		 3 Steps
 
Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.
  Answer this Question    Ask about Accounting    Ask about another Subject  
 
PDA

rcollins1939
Nov 30, 2007, 09:00 AM
What entry do I make when converting preferred shares to common.
terryg752
Dec 1, 2007, 03:29 AM
I am not sure but I think it will be like this:

You will CREDIT "Common Shares" and DEBIT "Preferred Shares" Accounts.

Both items will be Capital Stock Outstanding under OWNER's EQUITY (Or whatever you call it).