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Journalize the following transactions of Cathcart Video Productions Inc.: Apri 19 Issued 2,000 common shares at $10 per share July 22 Declared and paid a
Journalize the following transactions of Cathcart Video Productions Inc.: Apri 19 Issued 2,000 common shares at $10 per share July 22 Declared and paid a cash dividend of $0.60 per common share (16,000 common shares outstanding). Nov 11 Issued 1,400 common shares at $12 per share. What was the overall effect of these transactions on Cathcart'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.) Journal Entry Accounts Debit Credit Apr 19 Next, journalize the July 22nd transaction. Declared and paid a cash dividend of $0.60 per common share (16,000 common shares outstanding). Journal Entry Date Accounts Debit Credit July 22 Finally, make the journal entry for November 11th Issued 1,400 common shares at $12 per share Journal Entry Date Accounts Debit Credit Nov What was the overall effect of these transactions on Cathcart's shareholders' equity? The total effect on Cathcart's shareholders' equity was $
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