ebook Printem Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nov.Go Enterprises stockholders' equity accounts, with balances on January 1, 2011, areas follows: Common Stock 510 stated value (850,000 shares authorized, 580,000 shares issued) $5,800,000 Pald-In Capital in excess of Stated Value-Common Stock 1,100,000 Retained Earnings 13,170,000 Treasury Stock (58,000 shares, at cost) 812,000 The following selected transactions occurred during the year 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 $73,080. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 110,000 shares of common stock for $1,760,000. June 14. Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share. July 16. Issued shares of stock for the stock dividend declared on June 14, Oct. 30. Purchased 36,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.17 per share dividend on common stock 31. Closed the two dividends accounts to Retained Earnings. Required: 1. The January 1 balances have been entered in Taccounts for the stockholders' equity accounts. Record the above transactions in the Taccounts and provide the December 31 balance where appropriate. If required, round to one decimal place. Common Stock Jan. 1 Bal Apr. 13 5,800,000 1,100,000 OM Won Previous Next CengageNOW21 Online teaching and learning resource from Cangage Log Book Printem Common Stock Jan. 1 Bal. Apr. 13 July 16 Dec. 31 Bal. 5,800,000 1,100,000 Pald-In Capital in excess of Stated Value-Common Stock 1,100,000 Jan. 1 Bal. Apr. 13 June 14 Dec. 31 Bal Retained Earnings Jan. 1 Bal Dec. 31 13,170,000 Dec. 31 Dec. 31 Bal. Treasury Stock 812,000 Mar. 15 Jan. 1 Bal. Oct. 30 Dec, 31 Bal Paid-In Capital from Sale of Treasury Stock Mar. 15 Stock Dividends Distributable June 14 July 16 Stock Dividends Dec. 31 June 14 Cash Dividends Dec. 30 Dec. 31 2. Journalize the entries to record the transactions, For a compound transaction, an amount box does not require an entry, leave it blank Jan. 15. Pald 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 Mucal year for $73,080 Date Account Debit Credit Jan. 15 Cash Dividends Payable Cash Mar. 15. Sold all of the treasury stock for $17 per share. Date Account Debit Credit Previous Next > Check My Work and learning resource froen Cengage Learning eBook Print Item Mar. 15. Sold all of the treasury stock for $17 per share. Date Account Debit Mar. 15 Cash Credit Treasury Stock Pald-In Capital from Sale of Treasury Stock Apr. 13. Issued 110,000 shares of common stock for $1,760,000 Date Account Debit Credit Apr 13 Cash Common Stock Paid-In Capital in Excess of Stated Value-Common Stock June 14. Declared a 5% on common stock, to be capitalized at the market price of the stock, which is $18 per share. Date Account Debit Credit June 14 Stock Dividends Stock Dividends Distributable Paid-In Capital In Excess of Stated Value-Common Stock July 16. Issued stock for stock dividend declared on June 14. Date Account Dividends Distributable Debit Credit July 1 Common Stock Check My Work Previous Next Printem Oct. 30. Purchased 36,000 shares of treasury stock for $19 per share. Date Account Debit Credit Oct. 30 Treasury Stock Cash Dec. 30. Declared a 50.17-per-share dividend on common stock. Date Account Debit Credit Dec. 30 Cash Dividends Cash Dividends Payable Dec. 31. Closed the two dividends accounts to Retained Earnings Date Debit Account Retained Earnings Credit Dec. 31 Stock Dividends Cash Dividends 2. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $13,697,000 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"0 3. Prepare a statement of stockholders equity for the year ended December 31, 2071. Assume that net income was $13.607,000 for the year anded December 11. 2011. For those boxes which you must enter uttracted or negative number sein. If an amount box does not require an entry, leave blank or entero Naw.Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 201 Paid In Capital in Pald- Excess of Capital from Sale of Stated Value Treasury Stock Retained Earnings Treasury Stock Common Stock Total Balance, January 1 Erwued Common Steck Net Income Cash Dividende Stock Dividende Sale of Treasury Stock Purchase of Treasury Stock Balances, December 31 4. Prepare the Stockholders' Equity section of the December 31, 2011, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a mission Nav-Go Enterprises Inc Balance Sheet December 31, 2011 Stoholders' Equity 4. Prepare the "Stockholders' Equity section of the December 31, 2011, balance sheet. For those beves in which you must enter subtracted or negative numbers use a minus ign Nav-Go Enterprises Inc. Balance Sheet December 31, 2011 Stockholders' Equity Pald-In Capital: Common Stock, S10 Stated Value (850,000 Shares Authorized, 724,500 Shares Issued) Excess of Issue Price Over Stated Value From Sale of Treasury Stock Total Pald-In Capital Retained Earnings Total Treasury Stock (36,000 Shares, at Cost) Total Stockholders' Equity Yok My Wos 1. Remember that the numbers from the accounts will used to prepare the statement of stockholders' equity and the balance sheet. As you post the journal entries important to work arwy. Court uthaminintalare correct