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Entries for selected corporate transactions Nav - Go Enterprises Inc. produces aeronautical navigation equipment. Nav - Go Enterprises' stockholders' equity accounts, with balances on January

Entries for selected corporate transactions
Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1,20 Y 1, are as follows:
Common Stock, $10 stated value (500,000 shares authorized, 340,000 shares issued)
$3,400,000
Paid-In Capital in Excess of Stated Value-Common Stock
650,000
Retained Earnings
7,720,000
Treasury Stock shares, at cost)
510,000
The following selected transactions occurred during the year:
Jan. 15. Paid cash dividends of $0.12 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $36,720.
Mar. 15. Sold all of the treasury stock for $18 per share.
Apr. 13. Issued 65,000 shares of common stock for $16 per share.
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 stock for the stock dividend declared on June 14.
Oct. 30. Purchased 21,000 shares of treasury stock for $20 per share.
Dec. 30. Declared a $0.15-per-share dividend on common stock.
31. Closed the two dividends accounts to Retained Earnings.
Required:
The January 1 balances in T accounts for the stockholders' equity accounts have been listed below. T accounts for the following accounts have also been created: PaidIn Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. If required, round to one decimal place.
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