Airborne manufacturing co completed the following

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Reference no: EM13377602

Airborne Manufacturing, Co., completed the following transactions during 2012.

Jan 16 Declared a cash dividend on the 6%, $100 par preferred stock (2,000 shares issued and outstanding). Declared a $0.80 per share dividend on the common stock (100,000 shares issued, 92,000 shares 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, Airborne had issued 100,000 shares of $2 par common stock; 92,000 shares were outstanding.

Jul 30 Distributed a 25% stock dividend on the common stock (consider it a minor dividend). The market value of the common stock was $20 per share.

Oct 26 Purchased 3,000 shares of treasury stock at $16 per share.

Nov 8 Sold 1,000 shares of the treasury stock purchased on October 26^th for $19 per share.

Dec 30 Sold 2,000 shares of treasury stock purchased on October 26^th for $10 per share.

Record the transactions in Airborne's general journal.

Reference no: EM13377602

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