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Accounting Homework From: Horngren's Financial & Managerial Accounting - Sixth Edition Background :Random Manufacturing Co. completed the transactions related to stockholders' equity listed in the

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Accounting Homework

From: Horngren's Financial & Managerial Accounting - Sixth Edition

Background:Random Manufacturing Co. completed the transactions related to stockholders' equity listed in the transactions below.

What is asked of me: Journalize the transactions in a General Journal

I mostly have this completed. I am really needing assistance with the 7/30/2018 Transaction.

I am unclear as to which accounts should be used as well as how to calculate the figures.

Here are the transactions:

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Accounts List Cash Accounts Receivable Notes Receivable Land Building Accounts Payable Salaries Payable Dividends Payable - Preferred Dividends Payable - Common Preferred Stock - $103 Par Value Paid-In Capital in Excess of Par - Preferred Paid-In Capital in Excess of Par - Common Common Stock - $2 Par Value Paid-In Capital from Treasury Stock Transactions Common Stock Dividend Distributable Retained Earnings Treasury Stock Cash Dividends Stock Dividends Sales Revenue Cost of Goods Sold Salaries Expense Supplies ExpenseDate Account Titles and Explanations Debit Credit 1/1/2018 Cash 108,150.00 Preferred Stock - $103 Par Value 108,150.00 1/3/2018 Cash 1,500,000.00 Common Stock - $2 Par Value 200,000.00 Paid-In Capital in Excess of Par - Common 1,300,000.00 1/16/2018 Cash Dividends 26,489.00 Dividends Payable - Common 20,000.00 Dividends Payable - Preferred 6,489.00 2/15/2018 Dividends Payable - Preferred 6,489.00 Dividend Payable - Common 20,000.00 Cash 26,489.00 7/30/2018 Retained Earnings (May be Cash Dividends?) 450,000.00 Common Stock Dividend Distributable 60,000.00 Paid-In Capital in Excess of Par - Common 390,000.00 8/15/2018 Common Stock Dividend Distributable 60,000.00 Common Stock - $2 Par Value 60,000.00 10/26/2018 Treasury Stock 8,000.00 Cash 8,000.00 11/8/2018 Cash 5,000.00 Treasury Stock 4,000.00 Paid-In Capital from Treasury Stock Transactions 1,000.00 11/30/2018 Cash 1,200.00 Paid-In Capital from Treasury Stock Transactions 1,000.00 Retained Earnings 200 Treasury Stock 2,400.00Date Transactions 1/1/2018 Issued 1050 shares of 6%, $103 par value, non-cumulative preferred stock at par. 1/3/2018 Issued 100000 shares of $2 par value common stock for $15 per share. 1/16/2018 Declared the cash dividend on the preferred stock (Issued on January 1) and $0.2 per share dividend on the common stock (issued on January 3). The date of record is January 31 and the date of payment is February 15. 2/15/2018 Paid the cash dividends. 7/30/2018 Declared a 30% stock dividend on the common stock. The market value on the common stock was $18 per share. 8/15/2018 Distributed the stock dividend. 10/26/2018 Purchase 1000 shares of treasury stock at $8 per share. 11/8/2018 Sold 500 shares of treasury stock for $10 per share. 11/30/2018 Sold 300 shares of treasury stock for $4 per share

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