Newly formed S&J Iron Corporation has 108,000 shares of $7 par common stock authorized on March 1, 2018, S&J Iron issued 12,000 shares of the stock for $10 per share. On May 2, the company issued an additional 16,500 shares for $18 per share. S&J Iron was not affected by other events during 2018 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 (IA), 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, 2018, 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, 2018, balance sheet? Complete this question by entering your answers in the tabs below. Reg A Reg to E Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), Investing activity (IA), or fina activity (FA). If an element was not affected by the event, leave the cell blank 56J IRON CORPORATION Horizontal Statements Model Dance Sheet Income Statement Liabilities - Stockholders' Equity Revenue - Expense Event common Cash . . stock Excess March 1 May 2 shares of the stock for $10 per share. On May 2, the company issued an additional 16,500 shares for $18 per share. S&J Iron was not affected by other events during 2018. 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 (IA), 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, 2018, 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, 2018, balance sheet? Complete this question by entering your answers in the tabs below. Reg A Reg B to E b. Determine the amount S8J Iron would report for common stock on the December 31, 2018, 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 S80 Iron report on the December 31, 2018, balance sheet? Show less b. Common stock c. Pald-in capital in excess of par d. Total paid-in capital e. Total assets
