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    rcollins1939's Avatar
    rcollins1939 Posts: 1, Reputation: 1
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    #1

    Nov 30, 2007, 10:00 AM
    Preferred to Common Conversion Entry
    What entry do I make when converting preferred shares to common.
    terryg752's Avatar
    terryg752 Posts: 197, Reputation: 4
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    #2

    Dec 1, 2007, 04:29 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).
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