ERROR - Could not start the MS DTC Transaction Manager.

Below is how I solved this one...

Event:

Event Type: Error
Event Source: MSDTC
Event Category: SVC
Event ID: 4112
Date: 6/22/2012
Time: 8:07:43 PM
User: N/A
Computer: SERVER
Description:
Could not start the MS DTC Transaction Manager. For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.

I tried to set the MSDTC service to run it both in Manual startup mode and also by changing the startup type to Automatic but in both cases the following error comes up:

Windows could not start the Distributed Transaction Coordinator on Local Computer. For more information, review the System Event Log. If this is a non-Microsoft service, contact the service vendor, and refer to service-specific error code -1073737712.

Within a command prompt, typed:  msdtc -resetlog

Warning: The msdtc -resetlog command can cause data corruption if it is used incorrectly. Make sure that you do not have any pending transactions when you run this command.

Within a command prompt, typed:  net start msdtc

Event:Event Type: Information
Event Source: MSDTC
Event Category: TM
Event ID: 4193
Date: 6/22/2012
Time: 8:26:08 PM
User: N/A
Computer: SERVERDescription:
MS DTC started with the following settings (OFF = 0 and ON = 1):
Security Configuration:
Network Administration of Transactions = 0,
Network Clients = 0,
Inbound Distributed Transactions using Native MSDTC Protocol = 0,
Outbound Distributed Transactions using Native MSDTC Protocol = 0,
Transaction Internet Protocol (TIP) = 0,
XA Transactions = 0
Filtering Duplicate events = 1
For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp