Newly formed S&J Iron Corporation has 51,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 8,500 shares of the stock for $12 per share. On May 2, the company issued an additional 22,000 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. ped 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? Book Complete this question by entering your answers in the tabs below. n Reg A Reg 8 to E Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing financing activity (FA). Not all cells require input.) 0 rences S&J IRON CORPORATION Horizontal Statements Model Balance Sheet income Statement Expense Assets Revenue Net Income Statement of Cash Flows Event Cash Reg March 1 May 2 Liabilities Stockholders' Equity PIC in Excess Common Stock Reqto > aces Newly formed S&J Iron Corporation has 51,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 8,500 shares of the stock for $12 per share. On May 2, the company issued an additional 22,000 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. 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? 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 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 cPaid-in capital in excess of par d. Total paid-in capital i e Total assets Req A Show less A
