Newly formed S&J Iron Corporation has $180,000$ shares of $$3$ par common stock authorized. On March $1,$ Year $1,$ S&J Iron issued $8,500$

shares of the stock for $$11$ per share. On May $2,$ the company issued an additional $16,000$ shares for $$19$ per share. S&J Iron was not

affected by other events during Year $1.$

$($Please help with all parts A$-$F$)$

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?

f$.$ Prepare journal entries to record the March $1$ and May $2$ transactions.

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