Would you verify that I have the right idea:
"zero out common stock against distributions."
1 move any amount in common stock to distributions (offset to zero).
2 common stock is company stock + shareholder stock? Correct?
Adjust Shareholder's Equity offset Retained Earnings to zero?
or report Distributions ? Is this an optional choice?
Thanks, I'm a fish out of water with resp. to accounting.
RAZ
