Newly formed S\& J Iron Corporation has 64,000 shares of $6 par common stock authorized: On March 1, Year 1, S\&.J Iron issued toooo shares of the stock for $12 per share. On May 2, the company issued an additional 23,500 shares for $21 per share. S8. Iron was not affected by other events during year 1. Required a. Record the transactoons in a horizontal statements model. b. Determine the amount 58J Iron would report for common stock on the December 31, Year 1, balonce sheet. c. Determine the amount S6. J lron would teport for paid-in capital in excess of pat. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S\& J lron report on the December 31, Year 1, balance sheet? t. Prepare journal entries to record the March 1 and May 2 transoctions: Complete this question by entering your answers in the tabs below. Record the transactions in a horizontal statements model. (In the Statement of Cash Flows colume, indicate whether the item is an operating activity (Qa). iavesting ac financing activity (FA)? Leave blanik to indicate that on element was not affected by the event.) Newly formed S\&J Iron Corporation has 64,000 shares of $6 par common stock authorized. On March 1, Year 1, S\&J lron issued to,000 shares of the stock for \$12 per share. On May 2, the company issued an additional 23,500 shares for $21 per share 5&. lron was not 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 SRJ lron report on the December 31, Year 1 , balance sheet? t. Prepare journal entries to record the March 1 and May 2 transactions. Complete this question by entering your answers in the tabs below. b. Determine the amount S\&U Iron would report for common stock on the December 31 , Year 1, balsnce sheet. c. Determine the amount S8. 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 SAJ Iron roport on the December 31, Year 1 , balance sheet? Newly formed S\&.J Iron Corporation has 64,000 shares of $6 por common stock authorized. On March 1, Year 1, S\&J lron issued 10,000 shares of the stock for $12 per share. On May 2, the company issued an additional 23,500 shares for $21 per share. S\&J lron was not affected by other events during Year 1 . Required a. Record the transactions in a horizontal statements model. b. Determine the amount S\&. 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\&. Iron report on the December 31, Year 1, balance sheet? t. Prepare journal entries to record the March 1 and May 2 transoctions. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the March 1 and May 2 tramsactions. (tf no entry is required for a transactorvevent, select 'No fournal entry required in the first account tield.? Journal entry worksheet 2 Record the issuance of 10,000 shares of common stock for 412 per share
