Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. journalize the following transactions of contessa

Journalize the following transactions of Contessa Video Productions Inc. April 19 Issued 2,700 common shares...

80.2K

Verified Solution

Question

Accounting

imageimage

Journalize the following transactions of Contessa Video Productions Inc. April 19 Issued 2,700 common shares at $12 per share July 22 Declared and paid a cash dividend of $0.80 per common share (14,000 common shares outstanding). Nov 11 Issued 1,300 common shares at $14 per share. What was the overall effect of these transactions on Contessa's shareholders' equity? Begin with journalizing the April 19th transaction. Issued 2,700 common shares at $12 per share. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Apr 19 Next, journalize the July 22nd transaction. Declared and paid a cash dividend of S0.80 per common share (14,000 common shares outstanding) Journal Entry Date Accounts Debit Credit July 22 Choose from any list or enter any number in the input fields and then continue to the next

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students