Entries for Selected Corporate Transactions

Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Navo-Go Enterprises' stockholders' equity accounts, with balances on January 1, 20Y1, are as follows:

Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued)	$3,100,000
Paid-In Capital in Excess of Stated ValueCommon Stock	1,240,000
Retained Earnings	4,875,000
Treasury Stock (48,000 shares, at cost)	288,000

The following selected transactions occurred during the year:

Jan. 15.	Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320.
Mar. 15.	Sold all of the treasury stock for $6.75 per share.
Apr. 13.	Issued 200,000 shares of common stock for $8 per share.
June 14.	Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share.
July 16.	Issued stock for stock dividend declared on June 14.
Oct. 30.	Purchased 50,000 shares of treasury stock for $6 per share.
Dec. 30.	Declared an $0.08-per-share dividend on common stock.
31.	Closed the credit balance of the income summary account, $775,000.
31.	Closed the two dividends accounts to Retained Earnings.

Required:

1. The January 1 balances in T accounts for the stockholders' equity accounts have been listed bel Dividends. Common Stock Jan. 1 Bal. 3,100,000 Dec. 31 Bal Paid-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. 1,240,000 Dec. 31 Bal. Retained Earnings Jan. 1 Bal. 4,875,000 Dec. 31 Bal. Treasury Stock Jan. 1 Bal. 288,000 Dec. 31 Bal. Paid-In Capital from Sale of Treasury Stock