Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 20Y3, are as follows: Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (48,000 shares, at a cost of $6 per share) 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. 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 the certificates for the dividend declared on June 14. Oct. 30. Purchased 50,000 shares of treasury stock for $6 per share. Dec. 30. Declared a $0.08-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. Common Stock Jan. 1 Bal. Dec. 31 Bal. Paid-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. Dec. 31 Bal. 3,100,000 $3,100,000 1,240,000 4,875,000 288,000 1,240,000

Entries for Selected Corporace Transactoons The following selected transactions occuered during the rear: of the precenting fical vear for $34,320. Mar, 15: Sold an of the treasury stock tor $6.75 per share. Aer. 13. Issued 200,000 shares of common stock for $9 per ihare. June 14. Declared a 34 stock dividend on common stokk, to be capitalized ot the market price of the stock, which is $7.50 per share. buly 16. tsued the centificates for the dividend declared on June 14 , Oct. 30. Aurchased 50.000 shares of treatufy stock for $6 per share Dec 10 . Dedared o $0.09 ietr-share dividend on cemmen stsck. 31. Cosed the two dridends accounts to lietained Earnings. Required! Paid-In Capital in Excess of stated Value-Camansen steck 2. Journalite the entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 15. Paid cash dividends of $0.06 per share on the common stock. The ovidend 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 shure. Apr. 13. Issued 200,000 shares of common stock for $8 per share. June 14. Declared a 34, stock dividend on common stock, to be capitalized at the market peice of the stock, which is 57.50 per share. July 16. Issued the certificates for the dividend deciared on June 14. Oct. 30. Purchased 50,000 shares of treasury stock for $6 per share Dec. 30. Declared a $0.05-per-share dividend on common stock. Dec. 31. Cosed the two dividends accounts to Aetained Eamings. Entries for Selected Corporate Transactions Nav-Go Enterprises inc, produces aerenautical navigation equipment, The stockholders' equity accounts of Nav-Go Enterprises InC, with balances on January 1 , Zor3, are as follows: 12n, 15. Paid caih dividends of 10.06 per thare on the cemmon stock. The dividend had been property recorded when dedared on December 1 of the precesing fiscal year for $34,320. Mar. 15. Sold all of the treasury stock for 16.75 per thare. Apr. 13. Issued 200,000 shares of common stock for $8 per share. June 14, Declared a 35 atock fivilend on common stock, to be capitatued at the market price of the stock, which is 37,50 per share. July is. Wsued the cert hicaten for the dividend declared on June 14 : Oct 30. Prchased 50,000 shares ef treasury steck for 15 per share. Dec. 30. Deciared a s0.00-per-share dividend on comman stock. 31. Cobed the twe dividenes eccounts to Recaines Tames. Required: Paid-In Capital in Excess of Stated Value-Common Stock