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ask an expert Entries for selected corporate transactions

Nav$-$Go Enterprises Inc. produces aeronautical navigation equipment. Nav$-$Go Enterprises' stockholders' equity accounts, with balances on January $1,20$Y$1,$ are as follows:

The following selected transactions occurred during the year:

Jan. $15.$ Paid cash dividends of $$0\mathrm{.}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\mathrm{.}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\mathrm{.}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\mathrm{.}08-$per$-$share dividend on common stock.

Closed the two dividends accounts to Retained Earnings.

Required:

Dividends; Cash Dividends.

Common Stock amount box does not require an entry, leave it blank.

Jan. $15.$ Paid cash dividends of $$0\mathrm{.}06$ per share on the common stock. The dividend had been properly recorded when declared on December $1$ of the preceding fiscal year for $$34,320.$

Mar. $15.$ Sold all of the treasury stock for $$6\mathrm{.}75$ per share.

Apr. $13.$ Issued $200,000$ shares of common stock for $$8$ per share. Entries for selected corporate transactions

Nav$-$Go Enterprises Inc. produces aeronautical navigation equipment. Nav$-$Go Enterprises' stockholders' equity accounts, with balances on January $1,20$Y$1,$ are as follows:

The following selected transactions occurred during the year:

Jan. $15.$ Paid cash dividends of $$0\mathrm{.}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\mathrm{.}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\mathrm{.}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\mathrm{.}08-$per$-$share dividend on common stock.

Closed the two dividends accounts to Retained Earnings.

Required:

Dividends; Cash Dividends.

Common Stock Paid$-$In Capital in Excess of Stated Value$-$Common Stock

Paid$-$In Capital from Sale of Treasury Stock

Stock Dividends Distributable

Stock Dividends amount box does not require an entry, leave it blank.

Jan. $15.$ Paid cash dividends of $$0\mathrm{.}06$ per share on the common stock. The dividend had been properly recorded when declared on December $1$ of the preceding fiscal year for $$34,320.$

Mar. $15.$ Sold all of the treasury stock for $$6\mathrm{.}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\mathrm{.}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\mathrm{.}08-$per$-$share dividend on common stock.Dec. $31.$ Closed the two dividends accounts to Retained Earnings.

minus sign. If an amount box does not require an entry, leave it blank.

Nav$-$Go Enterprises Inc.

Statement of Stockholders' Equity

For the Year Ended December $31,20$ Y $1$

Prepare the "Stockholders' Equity" section of the December $31,20$y$1$ balance sheet.

I don't know if I$\text{'}$m on the right track, but I need help please!

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