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OBJ. 3, 4, 5, 7 4. Total stockholders' equity $11,262,432 Excel General Ledger PR 13-4B 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, 2013. are as follows: Common Stock, stated value (900,000 shares authorized 620,000 shares issued).. $3,100,000 Paid-In Capital in Excess of Stated Value--Common Stock. 1,240,000 Retained Earnings 4,875,000 Treasury Stock (48,000 shares, at a cost of $6 per share). 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 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 stare dividend on common stock. 31. Closed the two dividends account to Retained Earnings Instructions 1. Enter the January 1 balances in Taccounts for the stockholders' equity accounts listed, Also prepare T accounts for the following: Paid In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends, Cash Dividends. 2. Journalize the entries to record the transactions and post to the eight selected ac 3. Prepare a retained earnings statement for the year ended December 31, 20Y3. Assume that Nav-Go Enterprises had net income for the year ended December 31, 2045, of $775,000 4. Prepare the Stockholders' Equity section of the December 31, 2083, balance sheet using Method 1 of Exhibit 8. counts N O A B D E F G H J K 1 M 8 Instructions 9 Answers are entered in the cells with gray backgrounds 10 Cells with non-gray backgrounds are protected and cannot be edited. 11 An asterisk) will appear to the right of an incorrect entry In Taccounts, only final balances will be graded 12 Enter a zato for the final balance of appropriate 13 14 1.2 15 Common Stock Treasury Stock 16 Jan 1 Bal Jan 1 Bal 17 18 Dec 31 Bal 19 Dec 31 Bal 20 21 Paid-In Capital from Sale of Treasury Stock 22 Pald-in Capital in Excess of Stated Value 23 Jan 1 Bal Dec 31 Bal 24 Stock Dividends Distributable 20 Dec 31 Bat. 27 Dec 31 B 20 Retained Earnings Jon 1 Bal Stock Dividendo 31 Dec 31 Bal Dec 31 B Cash Dividends 34 35 Dec 31 Bal Pr. 13-4B Coboard Pont Alignment Number P39 - f f A B C D E F G J K M 2. Jan 15 Cash Dividends Payable Cash 34320 34,320 36 37 38 39 40 41 42 43 44 45 46 47 48 Mar 15 Cash Treasury Stock Paid in Capital from Sale of Treasury Stock Apr 13 50 June 14 51 2 TILINE July 16 55 58 Oct 30 59 30 51 Dec 30 Pr. 134B Type here to search OPI Alam Number A 3 E G H M N O 70 NAV-GO ENTERPRISES INC. Retained Earnings Statement For the Period Ended December 31, 2014 Ratuned earnings (anuary 1, 2014) Not income Loss Cash dividends Slock dividends Increase in retained earnings Retained earnings (December 31, 2014) 79 82 4 34 NAV-GO ENTERPRISES INC Balance Sheet December 31, 2014 ENERE 859233 8.885 888888888 88 89 91 Stockholders' Equity Paid-in capital Common stock, $8 stated value (900,000 shares authorized, 844,600 shares issued) Excess of issue price over stated value From sale of treasury stock Total paid in capital Retained earnings Total Doduct treasury stock (50,000 shares ut cost) Total stockholders' equity 94 05 97 98 99 100 Pr. 13-4B Type here to search 0 AM 99