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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 1, 20Y1, are as
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 follow5: 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 $23,760. 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 dividend on common stock, to be capitalized at the market price of the stock, which is 520 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. oct. 30. Purchased 14,000 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. 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. Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable Stock Dividends Cash Dividends 2. Journalize the entries to fecord the transactions, For a compound transaction, if an amount box does not require an entry, leave it blanik. 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 $23,760. Mar. 15. Sold all of the treasury stock for $17 per share. Ane. 12. Issued 40.000 shares of common stock for $720,000 July 16. Issued stock for stock dividend declared on June 14 . Oct. 30. Purchased 14,000 shares of treasury stock for $19 per share. Dec. 30. Declared a s0,15-per-share dividend on common stock. Dec. 31. Closed the two dividends accounts to Retained Earnings. uberaced or negative humbers use a minus sign, 13 an ambunt box does not require an entry, leave if blark er enter *g?", 4. Prepare the "Stockholders' Equity" section of the December 31,20Y1, balsnce 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 follow5: 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 $23,760. 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 dividend on common stock, to be capitalized at the market price of the stock, which is 520 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. oct. 30. Purchased 14,000 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. 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. Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable Stock Dividends Cash Dividends 2. Journalize the entries to fecord the transactions, For a compound transaction, if an amount box does not require an entry, leave it blanik. 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 $23,760. Mar. 15. Sold all of the treasury stock for $17 per share. Ane. 12. Issued 40.000 shares of common stock for $720,000 July 16. Issued stock for stock dividend declared on June 14 . Oct. 30. Purchased 14,000 shares of treasury stock for $19 per share. Dec. 30. Declared a s0,15-per-share dividend on common stock. Dec. 31. Closed the two dividends accounts to Retained Earnings. uberaced or negative humbers use a minus sign, 13 an ambunt box does not require an entry, leave if blark er enter *g?", 4. Prepare the "Stockholders' Equity" section of the December 31,20Y1, balsnce sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign
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