newly formed as S&J iron corporation has 129,000 shares of $4 par common stock authorized on March 1 year 1, S&J iron issued 10,000 shares of the stock for $12 per share on May 2 the company issued an additional 16,500 shares for $20 per share S&J iron was not affected by other events during year one.
Newly formed S&J Iron Corporation has 129,000 shares of $4 par common stock authorized. On March 1 Year 1, S&J Iron issued 10,000 shares of the stock for $12 per share. On May 2, the company issued an additional 16,500 shares for $20 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (A)or financing activity (FA) If an element was not affected by the event, leave the cell blank 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 $8) Iron report on the December 31 Year 1 balance sheet? Complete this question by entering your answers in the tabs below. RA Reqt tot Record the transactions in a hortzontal statements model. In the Cash Flow column, inalcate whether the item is an operating activity (OA). Investing activity (TA), er finar activity (FA). If an element was not affected by the event, leave the cold blank 5 RON CORPORATION Horizontal Statement Model Balance Sheet Steny Rev Connon Pin E. Experte Cash Flow Event Cash RE Newly formed S&J Iron Corporation has 129,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000 shares of the stock for $12 per share. On May 2, the company issued an additional 16,500 shares for $20 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA). Investing activity (1A), or financing activity (FA). If an element was not affected by the event, leave the cell blank. 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 pald-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? Complete this question by entering your answers in the tabs below. Req A Req B to E 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 fron would report for pald-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 say Iron report on the December 31, Year 1, balance sheet? Show less b. Common stock c. Paid-in capital in excess of par d. Total paid in capital e. Total assets
