Newly formed S&J Iron Corporation has 57,000 shares of $4 par common stock authorized on March 1, Year 1, S&J Iron issued 9,000 shares of the stock for $12 per share. On May 2, the company issued an additional 20,500 shares for $20 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). 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 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 Reto 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 5JIRON CORPORATION Horizontal Statement Model Balance Sheet Income Statement Liabilities Stockholders' Equity Revenue Expense Common PCI Stock . Net Incano Event Cash Flow Cash March May + Men Ba> Newly formed S&J Iron Corporation has 57,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 9,000 shares of the stock for $12 per share. On May 2, the company issued an additional 20,500 shares for $20 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). 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, Year 1, 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, Year 1, balance sheet? Complete this question by entering your answers in the tabs below. ReqA Reg to b. Determine the amount SA 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? Show less b. Common stock c. Paid in capital in excess of par d. Total paid in capital Total assets
