Entries for 5dected Comorate Transactions Nav.co Enterprises Inc produces Detonautical navigation equipment. Nw-Go Enterprises stockholdersleuty accounts, will laces on January 1, 2011, are as follow Common Stock $10 stated value (500,000 shares authorized, 320,000 shares issued) $3.200,000 Pard-in Capital in excess of stated Viie-Common Stock 600,000 Retained Eamngs 7,260,000 Treasury Stock (32,000 shares, at cost) 480,000 The following selected transachas occurred during the year Jan. 15. Paid hind of 50.15 per share on the common stock. The dividend had been property recorded when dead on December 1 of the preceding fiscal year for 543,200. Mat. 15. Sold at other stock to $18 per sharu. Apg 13. und 60,000 shares of common stock for $960,000 June 19. Declared and divided on common stock, to be capituled at the market price of the stock, which $18 pershare. July 16 Issandans of stock for the stock dividend declared on line 14 Oct. 30 Parchased 20,000 shares of treaty stock for $20 persham Det 30 Dedad 0:18. De dividend on common stock 31. Closed the two ends out to Rewned Emig. Required 1. They haces have been und in accounts for the stockholders buity accounts. Record the above transactions in the counts and provide the December bab whereported decimal 1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts. Record the above trans decimal place. Common Stock Jan. 1 Bal. 3,200,000 600,000 Apr. 13 July 16 Dec. 31 Bal. Paid-In Capital in Excess of Stated Value Common Stock 600,000 Jan, 1 Bal. Apr. 13 June 14 Dec. 31 Bal. Retained Earnings Dec. 31 Jan. 1 Bal. 7,260,000 Dec. 31 Dec. 31 Bal. Treasury Stock Retained Earnings Dec. 31 7,260,000 Jan. 1 Bal. Dec. 31 Dec. 31 Bal. Treasury Stock Jan. 1 Bal. 480,000 Mar. 15 Oct. 30 Dec. 31 Bal. Paid In Capital from Sale of Treasury Stock Mar. 15 Stock Dividends Distributable June 14 July 16 Stock Dividends June 14 Dec. 31 Stock Dividends Distributable Dune 14 July 16 Stock Dividends Der. 31 June 14 Cast Dividends Dec. 31 Dec. 30 2. Joumalize the entries to record the transactions. For a compound transaction, an amount box does not require an entry, leave it bank Jan. 15. Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December of the preceding fiscal year for $43,200, Date Credit Account Cash Dividends Payable Cash Debit 43,200 Jan. 15 13,200 Mar. 15. Sold all of the treasury stock for $10 per share Date Account Debit Credit Mit 15 Mar. 15. Sold all of the treasury stock for $18 per share. Date Account Debit Credit Mar. 15 Cash Treasury Stock Paid In Capital from Sale of Treasury Stock Apr. 13. Issued 60,000 shares of common stock for $960,000 Date Account Debit Credit Apt. 13 Cash Common Stock Paid In Capital in Excess of Stated Value Common Stock June 14. Declared a 4% 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 dedared on June 14 July 16 Stock Dividends Distributable Common Stock Oct. 30. Purchased 20,000 shares of treasury stock for $20 per share. Date Account Debit Credit Oct. 30 Treasury Stock Cash Dec. 30. Declared a $0.18-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 Account Debit Credit Dec. 31 Retained Earnings Stock Dividends 3. Prema statement of stockholder for the year December 31, 2011. Assume that encome was 2.550,000 for the red December 31, 2011. For those bones which you must entered on negative numbers use a minus in Fan amount box dos non est leave bank or enter Nav Go Enterprises Inc Statement of Stockholders' Equity For the Year Ended December 31, 2011 Capital Sale Treasury Stock Capital Excesso Stated Value Stock Treasury Srce Earnings Tote Balance, January Nem Cash plottento Stone 1. the 20. how to Purchase of Treasury Stock Balances, December 31 1. Prepare the "Stockholders' Equitysechon of the December 31, 2011, 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 Pa In Cali Common Stock, 510 Stated Vahoe (500,000 Shares Authorized, 395, 200 shares Issued) Excess of Issue Price Over Stated Value From Sale of Treasury Stock foto din Capital Red Earnings Total Treasury Stuck (20,000 Shares at Cost) Total Stoholder ty