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, $$10$ stated value $(300,000$ shares authorized, $200,000$ shares issued$)$

Paid$-$In Capital in Excess of Stated Value$-$Common Stock

Retained Earnings

$$2,000,000$

$400,000$

$4,540,000$

$280,000$

Treasury Stock $(20,000$ shares, $atcost)$

The following selected transactions occurred during the year:

$280,000$

Jan. $15.$ Paid cash dividends of $$0\mathrm{.}13$ per share on the common stock. The dividend had been properly recorded when declared on December $1$ of the preceding fiscal year for $$23,400.$

Mar. $15.$ Sold all of the treasury stock for $$17$ per share.

Apr. $13.$ Issued $40,000$ shares of common stock for $$720,000.$

June $14.$ Declared a $4\%$ stock dividenchon common stock, to be capitalized at the market price of the stock, which is $$20$ per share.

July $16.$ Issued shares of stock for the stock dividend declared on June $14.$

Oct. $30.$ Purchased $13,000$ shares of treasury stock for $$19$ per share,

Dec. $30.$ Declared a $$0\mathrm{.}16-$per$-$share dividend on common stock.

$31.$ Closed the two dividends accounts to Retained Earnings.

Required:

The January $1$ balances have been entered in $T$ accounts for the stockholders' equity accounts. Record the above transactions in the $T$ accounts and provide the December $31$ balance where appropriate. If required, round to one decimal place.