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PLEASE READ all Instructions carefully, and only choose from the accounts given. Please look at the dropbox options as well and show work to ensure accuracy. Thank You for your time.

Tomas has the following stockholders equity accounts at December 31, 2017. Common Stock ($100 par value, authorized 8,100 shares) $493,700 Retained Earnings 321,200 Prepare entries in journal form to record the following transactions, which took place during 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(1) 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.)

(2) A $20 per share cash dividend was declared.

(3) The dividend declared in (2) above was paid.

(4) The treasury shares purchased in (1) above were resold at $102 per share.

(5) 490 shares of outstanding stock were purchased at $105 per share.

(6) 340 of the shares purchased in (5) above were resold at $96 per share.

PART 1

Accounts to Choose From

Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable Debt Investments Dividends Payable Discount on Bonds Payable Equipment Equity Equity Investments Income Summary Land Legal Fees Expense No Entry Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Property Dividends Payable Retained Earnings Treasury Stock Unamortized Bond Issue Costs Unrealized Holding Gain or Loss - Income Prepare the stockholders equity section of Tomass balance sheet after giving effect to these transactions, assuming that the net income for 2018 was $95,200. State law requires restriction of retained earnings for the amount of treasury stock PART 2 List Of Accounts to Choose From Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable Debt Investments Dividends Payable Discount on Bonds Payable Equipment Equity Equity Investments Income Summary Land Legal Fees Expense No Entry Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Property Dividends Payable Retained Earnings Treasury Stock Unamortized Bond Issue Costs Unrealized Holding Gain or Loss - Income . DropBox 1 Options: December 31, 2018 | For the Year Ended December 31, 2018 | For the Quarter Ended December 31, 2018 Drop Box 2 Options: Drop Box 3 Options: Add, Less Drop Box 4 Options:

No. Account Titles and Explanation Debit Credit 2. 3. 4 5

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