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 (900,000 shares authorized, 600,000 shares issued) $6,000,000 Paid-In Capital in Excess of Stated Value-Common Stock 1,150,000 Retained Earnings 13,620,000 Treasury Stock (60,000 shares, at cost) 840,000 The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $70,200. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 115,000 shares of common stock for $2,070,000. 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 38,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.16-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings. Required: 1. 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. 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. Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $70,200. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 115,000 shares of common stock for $2,070,000 June 14. Declared a 5% on common stock, to be capitalized at the market price of the stock, which is $20 per share. July 16. Issued stock for stock dividend declared on June 14. Oct. 30. Purchased 38,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.16-per-share dividend on common stock. Dec. 31. Closed the two dividends accounts to Retained Earnings. 3. Prepare a statement of stockholders equity for the year ended December 31, 20Y1. Assume that net income was $14,165,000 for the year ended December 31, 20Y1. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter 0. 4. Prepare the Stockholders Equity section of the December 31, 20Y1, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

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: The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $70,200. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 115,000 shares of common stock for $2,070,000. 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 38,000 shares of treasury stock for $19 per share. Dec. 30. Declared a \$0.16-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings. Required: 1. 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 Oct. 30. Purchased 38,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.16-per-share dividend on common stock. Dec. 31. Closed the two dividends accounts to Retained Earnings. 2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 115,000 shares of common stock for $2,070,000 June 14. Declared a 5% on common stock, to be capitalized at the market price of the stock, which is $20 per share. July 16. Issued stock for stock dividend declared on June 14. Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable July 16 V Stock Dividends June 14 Dec. 31 Cash Dividends Dec. 30 Dec. 31 Dec. 31