eBook Calculator 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, $5 stated value (900,000 shares authorized, 620,000 shares issued) $3,100,000 Pald-In Capital in Excess of Stated Value-Common Stock 1,240,000 Retained Earnings 4,875,000 Treasury Stock (48,000 shares, at cost) 288,000 The following selected transactions occurred during the year: Jan. 15. Pald cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320. Mar. 15. Sold all of the treasury stock for $6.75 per share. Apr. 13. Issued 200,000 shares of common stock for $8 per share. June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. July 16. Issued stock for stock dividend declared on June 14, Oct. 30. Purchased 50,000 shares of treasury stock for $6 per share. Dec. 30. Declared an $0.08.per-share dividend on common stock 31. Closed the two dividends accounts to Retained Earnings. Required: 1. The January 1 balances in T accounts for the stockholders equity accounts have been listed below. T accounts for the following accounts have also Check My World 29 PM eBook Calculator Treasury Stock Jan. 1 Bal. 288,000 Mar. 15 Oct. 30 Dec. 31 Bal. Paid-In Capital from Sale of Treasury Stock Mar. 15 Stock Dividends Distributable Mar. 15 X June 14 X Stock Dividends Dec 31 Oct. 30 X Cash Dividends June 14 X June 14-X Previous Next Check My Work o arch