Chapter 12 Problems eBook Print Item Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1, 20Y1, are as follows: Common Stock, $10 stated value (700,000 shares authorized, 480,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (48,000 shares, at cost) The following selected transactions occurred during the year: $4,800,000 900,000 10,900,000 720,000 Jan. 15. Paid cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $60,480. Mar. 15. Sold all of the treasury stock for $18 per share. Apr. 13. Issued 90,000 shares of common stock for $1,620,000. June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 30,000 shares of treasury stock for $20 per share. Dec. 30. Declared a $0.17-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings.