tement Min dowokertkessament Sesonlocator.inprogress babe ne bi X Entries for Selected Corporate Transactions Nav Go Enterprises Inc. produces aeronautical navigation equipment. Nav Enterprises stockholders' equity accounts, with balances on anary 1, 2011, are as follows: Common Stock $10 stated value (400,000 shares wuthored, 280,000 shares issued) $2,000,000 Paid In Capital in Excess of Stated Value-Common Stock 550,000 Retained Earnings 6.360,000 Treasury Stock (26,000 shares, at cost) 420,000 The following selected transactions occurred during the year Jan. 15. Pald cash dividends of $0.14 per share on the common stock. The udend had been properly recorded when deared on December 1 of the preceding fiscal year for $35,250. Mar. 15. Sold all of the treasury stock for $15 per har Apr. 13. Issued 55,000 shares of common stock for $830,000 June 14. Declared a 5 stock dividend on common stock, to be capitalized the market price of the stock, which is 18 perse July 16. Issued shares of stock for the stock dividend deared on June 14 Oct. 30. Purchased 18,000 shares of treasury stock for $20 per share. Dec. 30. Dedared 30.1% per share dividend on common stock 31. Closed the two dividends accounts to Putained Earnings Required: 1. The January 1 balances have to entered in accounts for the lockout account. Record the above transactions in the Taccounts and Check My Work Pus 0 Gateway 8 o U Book Print item Nav-Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2011 Paid In Capital in Paid-In Excess of Capital from Sale of Stated Value Treasury Stock 550,000 07 Retained Common Stock Treasury Stock Earnings Halances, January 2,800,000 6,360,000 28,000 Issued Common Stock 550,000 330,000 Net Income Casi Dividends -56,737.: Stock Dividends 167,500 134,000 -301,500 Sole of Treasury Stock 34,000 Purchase of Treasury Stock 420,000 360,000 ances December $ 3,517,500 1,014,000 34,000 4. Prepare the Stockholders' Equity section of the December 31, 2011 Nav-Go Enterprises Inc. Balance Sheet December 31, 2011 Stockholders' Equity Paid In Capital: Common Stock, $10 Stated Value (400,000 Shares Authorized, 351,750 Shares Issued) Excess of Ice Price Over Stated Value From Sale of Treasury Stock 3,517,500 1,014,000 84,000 Total Paid-In Capital Retoined Earnings 4,615,500 Total Tresory Stock (10,000 Shares at cost Total Stockholders' Equity For the Year Ended December 31, 2011 Paid-In Capital in Paid In Excess of Capital from Sale of Stated Value Treasury Stock 550,000 0 Retained Earnings Treasury Stock Common Stock Balonces, January 1 6,360,000 2,800,000 550,000 Escue Common stock 330,000 Net Income 56,737.: 167,500 114,000 -301,500 Cash olvidendo Lock Dividends of Treasury Stock purchase of Treasury Stock 114,000 420,000 -360,000 balance December 3,517.500 $ 1,014,000 14,000 Prepare the "Stockholders' Equity" section of the December 31, 2011, balance sheet. For those boxes in which you must enter subtracted or nega umbers use a minus sign. Nav Go Enterprises Inc. Balance Sheet December 31, 2011 stockholders' Equity Pald-In Capital: Common Stock 510 Stated Value (400,000 Shares Authorized. 351.750 Shares Issued) 3,517,500 Excess of issue Price Over Stated Value 1,014,000 84,000 From Sale of Treasury Stock Total Pald-In Capital Retained Earnings 4,615,500 Total Treasury Stoc (10,000 Shares, a cost) Total Stockholders' Equity tement Min dowokertkessament Sesonlocator.inprogress babe ne bi X Entries for Selected Corporate Transactions Nav Go Enterprises Inc. produces aeronautical navigation equipment. Nav Enterprises stockholders' equity accounts, with balances on anary 1, 2011, are as follows: Common Stock $10 stated value (400,000 shares wuthored, 280,000 shares issued) $2,000,000 Paid In Capital in Excess of Stated Value-Common Stock 550,000 Retained Earnings 6.360,000 Treasury Stock (26,000 shares, at cost) 420,000 The following selected transactions occurred during the year Jan. 15. Pald cash dividends of $0.14 per share on the common stock. The udend had been properly recorded when deared on December 1 of the preceding fiscal year for $35,250. Mar. 15. Sold all of the treasury stock for $15 per har Apr. 13. Issued 55,000 shares of common stock for $830,000 June 14. Declared a 5 stock dividend on common stock, to be capitalized the market price of the stock, which is 18 perse July 16. Issued shares of stock for the stock dividend deared on June 14 Oct. 30. Purchased 18,000 shares of treasury stock for $20 per share. Dec. 30. Dedared 30.1% per share dividend on common stock 31. Closed the two dividends accounts to Putained Earnings Required: 1. The January 1 balances have to entered in accounts for the lockout account. Record the above transactions in the Taccounts and Check My Work Pus 0 Gateway 8 o U Book Print item Nav-Go Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2011 Paid In Capital in Paid-In Excess of Capital from Sale of Stated Value Treasury Stock 550,000 07 Retained Common Stock Treasury Stock Earnings Halances, January 2,800,000 6,360,000 28,000 Issued Common Stock 550,000 330,000 Net Income Casi Dividends -56,737.: Stock Dividends 167,500 134,000 -301,500 Sole of Treasury Stock 34,000 Purchase of Treasury Stock 420,000 360,000 ances December $ 3,517,500 1,014,000 34,000 4. Prepare the Stockholders' Equity section of the December 31, 2011 Nav-Go Enterprises Inc. Balance Sheet December 31, 2011 Stockholders' Equity Paid In Capital: Common Stock, $10 Stated Value (400,000 Shares Authorized, 351,750 Shares Issued) Excess of Ice Price Over Stated Value From Sale of Treasury Stock 3,517,500 1,014,000 84,000 Total Paid-In Capital Retoined Earnings 4,615,500 Total Tresory Stock (10,000 Shares at cost Total Stockholders' Equity For the Year Ended December 31, 2011 Paid-In Capital in Paid In Excess of Capital from Sale of Stated Value Treasury Stock 550,000 0 Retained Earnings Treasury Stock Common Stock Balonces, January 1 6,360,000 2,800,000 550,000 Escue Common stock 330,000 Net Income 56,737.: 167,500 114,000 -301,500 Cash olvidendo Lock Dividends of Treasury Stock purchase of Treasury Stock 114,000 420,000 -360,000 balance December 3,517.500 $ 1,014,000 14,000 Prepare the "Stockholders' Equity" section of the December 31, 2011, balance sheet. For those boxes in which you must enter subtracted or nega umbers use a minus sign. Nav Go Enterprises Inc. Balance Sheet December 31, 2011 stockholders' Equity Pald-In Capital: Common Stock 510 Stated Value (400,000 Shares Authorized. 351.750 Shares Issued) 3,517,500 Excess of issue Price Over Stated Value 1,014,000 84,000 From Sale of Treasury Stock Total Pald-In Capital Retained Earnings 4,615,500 Total Treasury Stoc (10,000 Shares, a cost) Total Stockholders' Equity