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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
NavGo Enterprises Inc. produces aeronautical navigation equipment. NavGo Enterprises' stockholders' equity accounts, with balances on January Y are as follows:
Common Stock, $ stated value shares authorized, shares issued
$
PaidIn Capital in Excess of Stated ValueCommon Stock
Retained Earnings
Treasury Stock shares, at cost
The following selected transactions occurred during the year:
Jan. Paid cash dividends of $ per share on the common stock. The dividend had been properly recorded when declared on December of the preceding fiscal year for $
Mar. Sold all of the treasury stock for $ per share.
Apr. Issued shares of common stock for $ per share.
June Declared a stock dividend on common stock, to be capitalized at the market price of the stock, which is $ per share.
July Issued stock for the stock dividend declared on June
Oct. Purchased shares of treasury stock for $ per share.
Dec. Declared a $pershare dividend on common stock.
Closed the two dividends accounts to Retained Earnings.
Required:
The January 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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