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 (850,000 shares authorized, 580,000 shares issued)	$5,800,000
Paid-In Capital in Excess of Stated Value-Common Stock	1,100,000
Retained Earnings	13,170,000
Treasury Stock (58,000 shares, at cost)	812,000

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 $62,640.
Mar. 15.	Sold all of the treasury stock for $17 per share.
Apr. 13.	Issued 110,000 shares of common stock for $1,760,000.
June 14.	Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share.
July 16.	Issued shares of stock for the stock dividend declared on June 14.
Oct. 30.	Purchased 36,000 shares of treasury stock for $19 per share.
Dec. 30.	Declared a $0.15-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.

y E.3130 y E.3130