(Solution) - Dearborn Manufacturing Co completed the following transaction -(2025 Original AI-Free Solution)

Paper Details

Dearborn Manufacturing, Co., completed the following transactions during 2012:
Jan 16 Declared a cash dividend on the 6%, $95 par preferred stock (1,000 shares outstanding). Declared a $0.55 per share dividend on the 90,000 shares of common stock outstanding. The date of record is January 31, and the payment due date is February 15.
Feb 15 Paid the cash dividends.
Jun 10 Split common stock 2 for 1. Before the split, Dearborn had 90,000 shares of $10 par common stock outstanding.
Jul 30 Distributed a 30% stock dividend on the common stock. The market value of the common stock was $12 per share.
Oct 6 Purchased 3,000 shares of treasury stock at $10 per share.
Nov 8 Sold 1,500 shares of treasury stock for $11 per share.
Nov 30 Sold 700 shares of treasury stock for $7 per share.
Requirement
1. Record the transactions in Dearborn?s general journal.