Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par...

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Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 7,600 shares) $459,100 Retained Earnings 266,700 (a) Your answer is partially correct. Prepare entries in journal form to record the following transactions, which took place during 2026. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 1. 2. A $22 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 $101 per share. 5. 500 shares of outstanding stock were purchased at $103 per share. 6. 380 of the shares purchased in (5) above were resold at $96 per share. No. Account Titles and Explanation 1. Treasury Stock Cash 2. Retained Earnings Dividends Payable 3. Dividends Payable Cash 4. Cash Treasury Stock Paid-in Capital from Treasury Stock 5. Treasury Stock Cash 6. Cash Retained Earnings Paid-in Capital from Treasury Stock Treasury Stock Debit 28,130 29,290 51,500 36,480 Credit 28,130 28,130 1,160 51,500 Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 7,600 shares) $459,100 Retained Earnings 266,700 (a) Your answer is partially correct. Prepare entries in journal form to record the following transactions, which took place during 2026. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 1. 2. A $22 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 $101 per share. 5. 500 shares of outstanding stock were purchased at $103 per share. 6. 380 of the shares purchased in (5) above were resold at $96 per share. No. Account Titles and Explanation 1. Treasury Stock Cash 2. Retained Earnings Dividends Payable 3. Dividends Payable Cash 4. Cash Treasury Stock Paid-in Capital from Treasury Stock 5. Treasury Stock Cash 6. Cash Retained Earnings Paid-in Capital from Treasury Stock Treasury Stock Debit 28,130 29,290 51,500 36,480 Credit 28,130 28,130 1,160 51,500