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Journalize the following transactions of Concilio Video Productions Inc.: Issued 2,000 common shares at $10 per share. Declared and paid a cash dividend of $0.50 per common share (21,000 common shares outstanding). Issued 800 common shares at $12 per share. April 19 July 22 Nov 11 What was the overall effect of these transactions on Concilio's shareholders' equity?

Journalize the following transactions of Concilio Video Productions Inc.: Issued 2,000 common shares at $10 per share. Declared and paid a cash dividend of $0.50 per common share (21,000 common shares outstanding). Issued 800 common shares at $12 per share. April 19 July 22 Nov 11 What was the overall effect of these transactions on Concilio's shareholders' equity?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalize the following transactions of Concilio Video Productions Inc.: Issued 2,000 common shares at $10 per share. Declared and paid a cash dividend of $0.50 per common share (21,000 common shares outstanding). Issued 800 common shares at $12 per share. April 19 July 22 Nov 11 What was the overall effect of these transactions on Concilio's shareholders' equity? ... Begin with journalizing the April 19th transaction. Issued 2,000 common shares at $10 per share. (Record debits first, then credits. Explanations are not required.) Date Accounts April 19 Debit Credit
Transcribed Image Text:Journalize the following transactions of Concilio Video Productions Inc.: Issued 2,000 common shares at $10 per share. Declared and paid a cash dividend of $0.50 per common share (21,000 common shares outstanding). Issued 800 common shares at $12 per share. April 19 July 22 Nov 11 What was the overall effect of these transactions on Concilio's shareholders' equity? ... Begin with journalizing the April 19th transaction. Issued 2,000 common shares at $10 per share. (Record debits first, then credits. Explanations are not required.) Date Accounts April 19 Debit Credit
Next, journalize the July 22nd transaction. Declared and paid a cash dividend of $0.50 per common share (21,000 common shares outstanding Date July 22 Accounts Date November 11 Debit Finally, make the journal entry for November 11th. Issued 800 common shares at $12 per share. Accounts Debit Credit What was the overall effect of these transactions on Concilio's shareholders' equity? The total effect on Concilio's shareholders' equity was $. Credit
Transcribed Image Text:Next, journalize the July 22nd transaction. Declared and paid a cash dividend of $0.50 per common share (21,000 common shares outstanding Date July 22 Accounts Date November 11 Debit Finally, make the journal entry for November 11th. Issued 800 common shares at $12 per share. Accounts Debit Credit What was the overall effect of these transactions on Concilio's shareholders' equity? The total effect on Concilio's shareholders' equity was $. Credit
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