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 (650,000 shares authorized, 420,000 shares issued) $4,200,000 Pald-In Capital in Excess of Stated Value-Common Stock 800,000 Retained Earnings 9,530,000 Treasury Stock (42,000 shares, at cost) 588,000 The following selected transactions occurred during the year: Jan. 15. Pald cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $52,920. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 80,000 shares of common stock for $1,440,000 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 26,000 shares of treasury stock for $19 per share. Dec. 30. Declared a 50.17-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 o RI Type here to search eBook Calculator Common Stock 4,200,000 Jan. 1 Bal. Apr. 13 July 16 Dec. 31 Bal 800,000 Paid-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. Apr. 13 June 14 Dec. 31 Bal. Retained Earnings Dec. 31 pan. 1 Bal. 9,530,000 Dec. 31 Dec. 31 Bal. Treasury Stock 588,000 Mar. 15 Jan. 1 Bal. Type here to search ORE E Calculator Jan. 1 Bal. 588,000 Mar. 15 Oct. 30 Dec. 31 Bal. Paid-In Capital from Sale of Treasury Stock Mar. 15 Stock Dividends Distributable July 16 June 14 > Stock Dividends Dec, 31 June 14 Cash Dividends Dec. 31 Dec. 30 2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave Jan. 15. Pald cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on on e O BE Type here to search IK CH 12 eBook Calculator 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 $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $52,920. Date Debit Credit Account Cash Dividends Payable Jan. 15 Cash Mar. 15. Sold all of the treasury stock for $17 per share Debit Credit Date Account Mar. 15 Cash v Treasury Stock Paid In Capital from Sale of Treasury Stock Apr. 13. Issued 50,000 shares of common stock for $1,440,000 Debit Credit Account Date Apr 13 Cash III Common Stock Paldin Capital in Excess of stated Value-Common stock SON o RI e Type here to search DELL BA 8 eBook Calculator 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 Stock Dividends Stock Dividends Distributable Paid-In Capital in Excess of Stated Value-Common Stock July 16. Issued stock for stock dividend declared on June 14. Date Account Debit Credit July 16 Stock Dividends Distributable Common Stock Oct. 30. Purchased 26,000 shares of treasury stock for $19 per share. Debit Credit Date Account Oct. 30 Treasury Stock Cash Dec. 30. Declared a $0.17-per-share dividend on common stock, o E Type here to search HWK CH 12 eBook Calculator Dec. 30. Declared a $0.17-per-share dividend on common stock. Date Account Debit Credit Dec. 30 Cash Dividends Cash Dividends Payable Dec. 31. Closed the two dividends accounts to Retained Earnings. Date Account Debit Credit Dec. 31 Retained Earnings Stock Dividends Cash Dividends 3. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $9,911,000 for the 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 bla Nav-Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y1 Daiden Paid-In Capitalim RE Type here to search Nav-Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y1 Paid-In Capital in Excess of Stated Value Paid-In Capital from Sale of Treasury Stock Retained Earnings Treasury Stock Total Common Stock ssued Common Stock X 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 sig Nav-Go Enterprises Inc. Balance Sheet Type here to search December 31, 2011, balance sheet. For those boxes in which you must enter subtracted or Nav-Go Enterprises Inc. Balance Sheet December 31, 20Y1 Stockholders' Equity Pald-In Capital: Common Stock, $10 Stated Value (650,000 Shares Authorized, 525,000 Shares Issued) Excess of Issue Price Over Stated Value From Sale of Treasury Stock Total Paid-In Capital Retained Earnings Total Treasury Stock (26,000 Shares, at Cost) Total Stockholders' Equity Feedback Check My Work 1. Remember that the numbers from the T accounts will used to prepare the statement of stockholders' equity and the balance sheet. As you post the journal Check your work to insure that you have posted the correct numbers to the appropriate side of the Taccount. Also, make sure that your account totals are cor 9 o Type here to search DLL