Newly formed S&J Iron Corporation has 192,000 shares of $5 par common stock authorized. On March 1, Year 1 S&J Iron issued 10,000 shares of the stock for $13 per share on May 2, the company issued an additional 18,500 shares for $22 per share.5&J Iron 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 por d. What is the total amount of capital contributed by the owners? 6. What amount of total ossets would S&J Iron report on the December 31. Yeart, balance sheet? Complete this question by entering your answers in the tabs below. Red Reg to Record the transactions in a hortzontal statements model. (In the Statement of Cash Flows coluni, indicate whether the item is an operating activity (OA), investing ac financing activity (FA). Not all cells require input) S6J IRON CORPORATION Horizontal Statements Model Balance Sheet Liabilities Stackholders' Equity Revenue Common PIC in Stock Excess Income Statement Expense Net Income Assets Statement of Canh Flows Event Cash March May 2 BH +. Regto > Newly formed S&J Iron Corporation has 192,000 shares of $5 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000 shares of the stock for $13 per share. On May 2, the company issued an additional 18,500 shares for $22 per share. S&J Iron 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 S&J Iron report on the December 31, Year1, 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 Iron would report for Raid-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? Show less b. Common stock c. Paid-in capital in excess of par d. Total pald-in capital o. Total assets
