What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?
Accounting In 2014, Eklund, Inc., issued for $103 per share, 70,000 shares of $100 par value convertible preferred stock. One share of preferred stock can be converted into three shares of Eklund’s $26 par value common stock at the option of the preferred stockholder. In August 2015, all of the preferred stock was converted into […]