2 Exercise 11-8A (Algo) Effect of issuing common stock on the bolance sheet LO 11-4 15 points Newly formed S&J Iron Corporation has 96,000 shares of $5 par common stock authorized on March 1, Year 1, S&J Iron issued shares of the stock for $10 per share on May 2, the company issued an additional 20,000 shares for $20 per share. S&J Iron w. affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet c. Determine the amount S&J Iron would report for paid-in capital in excess of par. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S&J Iron report on the December 31, Year 1, balance sheet? elook Hint Print Complete this question by entering your answers in the tabs below. References Reg Req.B to E Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an oper financing activity (FA). Not all cells require input.) Income Statement S&J IRON CORPORATION Horizontal Statements Model Balance Sheet Liabilities Stockholders' Equity Revenue Common Pic in Stock Excess Assets . Expense Net Income Statement of Cash Flows Event Cash March 1 May 2 Hoga Reg toE > Effect of issuing common stock on the balance sheet LO 11-4 poration has 96,000 shares of $5 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000 per share. On May 2, the company issued an additional 20,000 shares for $20 per share. S&J Iron was not uring Year 1 in a horizontal statements model. S&J Iron would report for common stock on the December 31, Year 1. balance sheet, S&J Iron would report for paid-in capital in excess of par. nt of capital contributed by the owners? ssets would S&J Iron report on the December 31, Year 1, balance sheet? on by entering your answers in the tabs below. ok Required a. Record the transactions in a horizontal statements model. b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet c. Determine the amount S&J Iron would report for paid-in capital in excess of par d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S&J Iron report on the December 31. Year 1, balance sheet? ht Complete this question by entering your answers in the tahs below. Complete this question by entering your answers in the tabs below. ces Reg A Rege to Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating financing activity (FA). Not all cells require input.) S&J IRON CORPORATION Horizontal Statements Model Balance Sheet Income Statement Assets Net Income Revenue Statement of Cash Flows Liabilities Expense Event Stockholders' Equity Common PIC in Stock Excess Cash March 1 May 2 + Ron Req Bto E > cember 31, Year 1, balance sheet Bf par. Par 1, balance sheet? Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or ON Jodel Income Statement enue Expense Net Income Statement of Cash Flows GA Req B to E > Print Complete this question by entering your answers in the tabs below. Terences Req A Reg B to E b. Determine the amount So Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount SBJ Iron would report for paid in capital in excess of par. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S8) Iron report on the December 31, Year 1, balance sheet? Show less b. Common stock Pald.in capital in excess of par a Total pald.in capital e. Total assets