$6,000,000 1,150,000 13,620,000 340,000 Entries for selected Corporate Transactions Nav-ce Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises stockholders' equity accounts, with balances on January 1, 2011. we as follows: Common Stock, $10 stated value (900,000 shares authorized, 600,000 shares issued) Paid In Capital in excess of stated value-Common Stock Retained Earnings Treasury Stock (60,000 shares, at cost) The following selected transactions occurred during the year Jan. 15. Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $81,000 Mar 15. Sold all of the treasury stock for $17 per share. Apt. 13. Issued 115,000 shares of common stock for $1,840,000 June 14. Dedared a stock dividend on common stock, to be capitalized at the market price of the stock, which is $10 per share July 16, Issued shares of stock for the stock dividend declared on June 14, Oct. 30. Purchased 38.000 shares of treasury stock for 519 per share Dec 30 Dectared a 0.16 peshore divided on common stock 31. Closed the two dividends accounts to detained Earnings Requiredi 1. The January 1 balances have been entered in accounts for the stockholders' equity accounts Record the above transactions in the accounts and provide the December a balance where appropriate. If required, round to one decimal poco Check My Work Cash Dividends Head Sign in to your acco. Vention SharePoint 6 MyChart MS CNOW Homework ebook 2. Jumle there to record the transaction for a compound transaction, an amount box does not require an entry leave it blank Jan. 15. Paid cash didends of $0.15 per share on the common iad. Me dividend had been priorly recorded when dedared on December 1 of the precedine focal year for $81,000 Date Account Debit Crede tants Mar. 15. Sold of the rock for 12 perse Date Account Debit Credit Mar 15 Apr. 13.wed 15.000 shares of common stock for 51.540,000 Date Account Debit Credit ACD June 14. Deared on common stock, to be called the marricot the stod, which is 51 per share Dat Account Debi Crecht Checy War AN All Type here to search M5 CNOW Homework eBook July 16. Issued stock for stock dividend declared on June 14 Date Credit Account Debit paly 16 Oct 30. Purchased 38,000 shares of treasury stock for 519 per share. Date Account Debit Credit Oct. 30 Dec. 30. Dedared a 50.18-Dershare dividend on common stock Date Account Debit Credit Dec. 30 Dec. 31. Closed the two dividends accounts to Retained Earnings Date Account Debit Credit (Dec. 31 Check My Work Assit Score: 55% Type here to search O 3. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $14,165,000 for the year ended December 31, 2011. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter "o". Nav-Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2041 Paid-In Capital in Excess of Stated Value Paid-In Capital from Sale of Treasury Stock Retained Treasury Common Stock Earnings Stock Total $ 0 x 0 x o 0 x $ 0 X Balances, January 1 Issued Common Stock 0 ox 0 x Net Income 0 X Cash Dividends 0 0 X Stock Dividends 0 0 x 0 X 0 o Sale of Treasury Stock 0 0 X 0 Purchase of Treasury Stock 0 x Balances, December 31 S 0 X $ 0 0 X $ 0 $ 0 x o X 4. Prepare the "Stockholders' Equity" section of the December 31, 20Y1, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Nav-Go Enterprises Inc. Balance Sheet December 31, 2011 , Stockholders' Equity Paid-In Capital: Common Stock, $10 Stated Value (900,000 Shares Authorized, 750,750 Shares Issued) s 0 Excess of Issue Price Over Stated Value 0 x From Sale of Treasury Stock 0 Total Paid-In Capital $ 0 Retained Earnings 0 X Total $ 0 X Treasury Stock (38,000 Shares, at Cost) 0 0 x Total Stockholders' Equity $ 0 X Feedback