On January 1, 2017, Thomson Inc. had the following account balances in its shareholders' equity accounts.

                       

                        Common stock, $1 par, 350,000 shares issued of

                        which 20,000 Shares being held as treasury stock           $350,000  

                        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, 20,000 shares                                              60,000  

                                               

During 2017, Thomson Inc. had several transactions relating to common stock.

2/10

Declared a property dividend, payable in Welch company stock. The Welch stock had been purchased early in 2016 for $30,000 and was reported as an asset at a fair value of $35,000 on 12/31/16 balance sheet. The market value of Welch stock is $38,000 on 2/10/17.

3/17

Distributed the property dividend.

3/20

Reissued 5,000 shares of treasury stock at $5 per share.

4/17

Declared a 3 for 1 stock split on common stock effective 4/24.

7/18

Declared and distributed a 10% stock dividend on   outstanding common stock; market value per share, $7.                      

11/1

Declared a $0.5 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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