Newly formed S J Iron Corporation has 165,000 shares of $4 par common stock authorized On March 1, Year 1, S J Iron issued 9,000 shares of the stock for $11 per share On May 2, the company issued an additional 21,000 shares for $21 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 (IA), or financing activity (FA) Use NA to indicate that an element was not affected by the event Balance Sheet Income Statement AssetsLiabilities Stockholders' Equity RevenueE ExpenseNet Income Cash Flow Common PIC in Excess Event March 1 May 2 Cash Stock 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 ron report on the December 31, Year 1, balance sheet 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 b Common stock c Paid in capital in excess of par d Total paid in capital e Total assets f Prepare journal entries to record the March 1 and May 2 transactions (If no entry is required for a transaction event, select No ournal entry required in the first account field ) View transaction list Journal entry worksheet Record the issue of common stock Note Enter debits before credits Date General Journal Debit Credit March 01 Record entry Clear entry View general journal f Prepare journal entries to record the March 1 and May 2 transactions (If no entry is required for a transaction event, select No journal entry required in the first account field ) View transaction list Journal entry worksheet Record the issue of additional common stock Note Enter debits before credits Date General Journal Debit Credit May 02 Record entry Clear entry View general journal

Question

Newly formed S J Iron Corporation has 165,000 shares of $4 par common stock authorized  On March 1, Year 1, S J Iron issued 9,000 shares of the stock for $11 per share  On May 2, the company issued an additional 21,000 shares for $21 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 (IA), or financing activity (FA)  Use NA to indicate that an element was not affected by the event  Balance Sheet Income Statement AssetsLiabilities  Stockholders' Equity RevenueE ExpenseNet Income Cash Flow Common   PIC in Excess Event March 1 May 2 Cash Stock 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 ron report on the December 31, Year 1, balance sheet  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  b  Common stock c  Paid in capital in excess of par d  Total paid in capital e  Total assets f  Prepare journal entries to record the March 1 and May 2 transactions  (If no entry is required for a transaction event, select  No ournal entry required  in the first account field ) View transaction list Journal entry worksheet Record the issue of common stock  Note  Enter debits before credits Date General Journal Debit Credit March 01 Record entry Clear entry View general journal f  Prepare journal entries to record the March 1 and May 2 transactions  (If no entry is required for a transaction event, select  No journal entry required  in the first account field ) View transaction list Journal entry worksheet Record the issue of additional common stock  Note  Enter debits before credits  Date General Journal Debit Credit May 02 Record entry Clear entry View general journal

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Newly formed S&J Iron Corporation has 165,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 9,000 shares of

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