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Entries for Selected Cofporate Iransactions Nav-Go Enterprises Inc. produces aeronautical nawioation equipment, Nav.Go Enterprises' stockholdera' equity accounts, with balances on Janeary 1 , 20r1, are as follows: The following sedected transactons occurred uunno ve year: Jan. 15. Paid cash divdends of $0.14 per share on the common stock. The dividend had been broperty recorded when dectared on December 1 of the preceding fical year for $40,320. Mar, 15. Sold all of the treasury stock for 517 per share. Apr: 13. Issued 60,000 shares of common stock for $960,000. June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share. Jufy 16. 1ssued shares of stock for the stock dividend deciared on June 14. oct. 30. Puechased 20,000 shares of treasury istock for 519 per share. Dec 30. Declared a s0.17-per-shate dividend on common stock. 31. Closed the two dividends accounts to Petained Earnings. Reguired: 1. The zanuary' 1 balances have been entered in T accounts for the steckholders' equity accounts. Record the above transacticns in the T accounts and provide the December at balanc where appropriate. If required, round to one decimal place. Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock Jan. 1 Bal. Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable Stock Dividends Cash Dividends 2. Nournalize the entries to record the transactions. For a compound transacton, if an anaount box does not require an chtry, leave it blark. Jan. 15. Paid cash dividends of so.14 per share on the common stock. The dividend had been properiy recorded when declared on December 1 of the preceding fiscal year for sto, 320 , Mar. 15. Sols all of the treasury stock for 517 per sthare. ADr. 13. issued 50,000 stiares of cammen woek far 5960,000 June 14. Dedared a 4% on common stock, to be capitalized at the market price of the stock, which is $18 per share. July 16. Issued stock for stock dividend declared on June 14. Oct. 30. Purchased 20,000 shares of treasury stock for $19 per share. Dec. 30. Declared a \$0.17-per-share dividend on common stock. Dec. 31. Closed the two dividends accounts to Retained Earnings. 1. Prepare a stotement of stockholders' equity for the year ended December 31 , 20Y1. Ascume that net income was $7,550,000 for the year ended December 31,20r1. For those bores which you must enter subtrected or negative numbers use a minus sige. If an amourt bok does not reguire an entry, leave it blank of enter "oo", 4. Prepare tho "Stodholders' Equity" section of the December 31, 20Y1, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minis sign. Nov - Co Enterprives Inc- Balance Sheet December 31, 20Y1 Stockholders' Equity Paid-in Capital: Total paid-in Capital Total Total stockholders' Equity

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