Question
Hello everyone, I don't know what is up with this problem, but I have posted it so many times and no one is solving this
Hello everyone, I don't know what is up with this problem, but I have posted it so many times and no one is solving this correctly, Please type your answers so i can understand your numbers, and please follow the table I provided, I see people answering like only one column. please answer this question fully and correctly
Thanks
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, $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 two dividends accounts to Retained Earnings.
Please answer it in the same format as I posted below in the chart.
3. Prepare a statement of stockholders equity for the year ended December 31, 20Y1. Assume that net income was $775,000 for the year ended December 31, 20Y1. For those 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 blank or enter 0.
Nav-Go Enterprises Inc. Statement of Stockholders Equity For the Year Ended December 31, 20Y1 | ||||||
---|---|---|---|---|---|---|
Common Stock | Paid-In Capital in Excess of Stated Value | Paid-In Capital from Sale of Treasury Stock | Retained Earnings | Treasury Stock | Total | |
Balances, January 1 | $ | $ | $ | $ | $ | $ |
$ | $ | $ | $ | $ | $ |
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