On January 1, 2015, Thomson Inc. had the following account balances in its shareholders’ equity accounts. Common stock, $1 par, 250,000 shares issued of which 3,000 Shares being held as treasury stock $250,000 Paid-in capital excess of par, common 500,000 Preferred stock, $100 par, 10,000 shares outstanding 1,000,000 Paid-in capital excess of par, preferred 100,000 Retained earnings 2,000,000 Treasury stock, at cost, 3,000 shares 15,000 During 2015, Thomson Inc. had several transactions relating to common stock. 3/20 Reissued 2,000 shares of treasury stock at $7 per share. 4/17 Declared a 2 for 1 stock split on common stock effective 4/24. 7/18 Declared and distributed a 5% stock dividend on outstanding common stock; market value per share, $8. 11/1 Declared a ten cent per share cash dividend on the outstanding common shares. 11/25 Ex-dividend date for the cash dividend. 11/29 Date of record for the cash dividend. 12/20 Paid the cash dividend declared on 11/1. Required: Record the above transactions and events in the journal entry format.
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