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Entries for Selected Corporate Transactions Nav-Ge Enterprises Inc. produces aeronautical navigation vipment. Now Go Enterprises stockholders' evity accounts, with balances on January 1, 2011, are

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Entries for Selected Corporate Transactions Nav-Ge Enterprises Inc. produces aeronautical navigation vipment. Now Go Enterprises stockholders' evity accounts, with balances on January 1, 2011, are as follows: Common Stock 510 stated value (800,000 shares authorised, 540.000 shares issued) $5,400,000 Paid In Capital in Excess of stated Value- Con Stock 1,050,000 Retained Earnings 12,250,000 Treasury Stock (54,000 shares, a cost) 756,000 The following selected transaction sccurred during the year Jan. 15. Podcast dedente of 80.12 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding scal year for $58,320 Mar. 15. oldal of the treasury stock for $17 per share Apr 13. Istued 105.000 thares of common stock for $1,690,000 Aune 14. Declared a 5 mod vind on common stock, to be capitalized at the market price of the stock, which is s20 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 34,000 shares of treasury stock for $19 per share Dec. 30. Declared a 50.15-per-share dividend on common stock 31. Closed the two dividends accounts to retained Earnings Required: 1. The Manuary 1 balances have been entered in accounts for the stockholders equity counts. Record the above transactions the accounts and provide the December 31 balance where appropriate required, round to one decimal place 2. Journaline the entries to record the transactions for a compound transaction, an amount box does not require an entry, leave it blank Jan. 15. Poid cash dividends of $0.12 per share on the common stock. The dividend had been property recorded when ordered on December of the sercating focal year for 50,220 Date Account Credit Jan. 15 Cash Dividends Payable Debit 58,320 Cash 58,320 Mar. 15. Sold all of the treasury stock for $17 per share Date Account Debit Credit Mar 15 Cash 918,000 Treasury Stock Paid in Capital From Sait of Stock 756,000 162,000 Apr. 13. Issued 105,000 shares of common stock for $1,890.000 Account Date Debit Credit Apr. 13 Cash Common Stock 1,050,000 Paid-in Capitakin Excess of Stated Value-Common Stock June 14. Declared as a common stock, to be capitalized at the market price of the stock, which is $20 per share. Date Account Debit Credit June 14 July 16, Issued stock for stock dividend declared on June 14 July 16. Issued stock for stock dividend declared on June 14 Date Account Debit Credit July 16 Oct. 30. Purchased 34,000 shares of treasury stock for $19 per share Date Account Debit Credit Oct. 30 Accounting full Dec. 30. Declared a $0.15-per-share dividend on common stock Date Account Debit Credit Dec. 30 Dec. 31. Closed the two dividends accounts to Retained Esmings Account Debit Date Credit Dec. 31 750 non in the year ended December 31, 20YL. For those bo 3. Pre test for the December 20th 112,750,000 for the December Form enter subtracted or negative numbers bow does not remer Nave Enterprises Inc Statement of stockholders' Equity For the Year Ended December 31, 2011 Paiden Capital in Paldin Deces of Capital trom Sale et sted Value Treasury Stock Treasury Retained Earning Total 4. Prepare the stockholder taction of the December 31, 201. Dalance sheet. For those bones in which you must enter de regelen Nav.Go Enterprises Inc. Balance Sheet December 31, 2011 Stockholders' Equity Paid In Capital Tocal Paid-in Capital Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises stockholders' equity accounts, with balances on January 1, 2011, are as follows: Common Stock. $10 stated value (800,000 shares authorired, 540,000 shares issued) $5,400,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,050,000 Retired Earnings 12,260,000 Treasury Stock (54,000 shares, at cost) 756,000 The following lected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.12 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $58,320. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 105,000 shares of common stock for $1,890,000 June 14. Declared a 5% stock dividend on 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 34,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.15-per-share dividend on common stock 31. Cosed the two dividends accounts to retained Earnings Required: 1. The January 1 balances have been entered in accounts for the stockholders' equity accounts. Record the above transactions in the accounts and provide the December 31 balance where appropriate required, round to one decimal place. Common Stock jan. 1 Bal. Apr13 July 16 Dec 31 Bal. 5,400,000 1,050,000 322,500 6,772,500 Pald-In Capital in Excess of stated Value-Common Stock Jan. 1 Bal. 1,050,000 Pald-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. Apr. 13 1,050,000 Dune 14 Dec. 31 Bal. Retained Earnings Dec 31 12,260,000 Jan. 1 Bal Dec. 31 Dec. 31 Bal Treasury Stock 756,000 Jan. 1 Bal. Dec. 31 Bal Pald-In Capital from Sale of Treasury Stock Stock Dividends Distributable Stock Dividends Cash Dividends Jan 22 2. Journalize the entries to record the transactions. For a compound transaction. If an amount box does not require an entry, leave it blank. Jan. 15. Pald 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 $58,320 Date Account Debit Credit Jan. 15 Cash Dividends Payable 58,320 Cash 58,320 Mar. 15. Sold all of the treasury stock for $17 per share. Date Account Credit Debit 918,000 Mar. 15 Cash Treasury Stock 756,000 Paid-In Capital from Sale of Treasury Stock 162,000 V Debit Apr. 13. Issued 105,000 shares of common stock for $1,890,000 Date Account Apr. 13 Cash Common Stock Credit 1,050,000 Paid-in Capital in Excess of Statud Value-Common Stock June 14. Declared a 5% on common stock, to be capitalized at the market price of the stock, which is $20 per share. Date Account Debit Credit June 14 June 14. Declared a 5% on common stock, to be capitalized at the market price of the stock, which is $20 per share. Date Account Debit Credit June 14 July 16. Issued stock for stock dividend declared on June 14. Date Account Debit Credit July 16 Oct. 30. Purchased 34,000 shares of treasury stock for $19 per share. Date Account Debit Credit Oct. 30 Dec. 30. Declared a $0.15-per-share dividend on common stock. Date Account Debit Credit Dec. 30 Dec. 31. Closed the two dividends accounts to retained Earnings. Date Account Debit Credit Dec. 31 Dec. 31. Closed the two dividends accounts to Retained Earnings. Date Account Debit Credit Dec. 31 3. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $12,750,000 for the year ended December 31, 20Y1. For those boxes enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter "o". Nav-Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y1 Pald-In Capital in Pald-In Excess of Capital from Sale of Stated Value Treasury Stock Common Stock Retained Earnings Treasury Stock Total 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 minus sign Nav-Go Enterprises Inc. Balance Sheet December 31, 2011 Stockholders' Equity Paid in Capital Total Paldin Capital Total Total Stockholders' Equity

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