Problem: Module 3 Textbook Problem 12 Learning Objectives: - 3-10 ldentify the characteristics of capital stock - 3-12 Show how issuing different classes of stock affects finaneial statements Newly formed $8 J iron Corporation hat 79.000 shares of $5 par common stock authorized On March 1, Year 1,58J iron issued 8.000 shares of the stock for $10 per share. On May 2. the company issued an additionat 37.000 shares for 518 per share, S8.J iron was not affected by other events during Year 1 Required a. Record the transactions in a horizontal statements modet in the Cash Flow column, indicate whether the item is an operating octivity (OA), investing activity (A), or financing activay (FA). If an element was not affected by the event, leave the ceil biank. b. Determine the amount 56J Iron would report for common stock on the December 31 , Year 1 , balance sheet c. Determine the amount 58J Iron would report for paid-in caphal in excess of par: d. What is the total amount of capital contributed by the owners? e. What omount of tohal aswets would \( \$ \& \)amp; J Iron report on the December 31 , Year 1 , balance sheet? Complete this question by entering your answers in the tabs below. Fecord the transactions in a horizontal statements model, In the Cast Flow column, indicate whether the item is an operoting activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the ces blank. Problem: Module 3 Textbook Problem 12 Learning Objectives: - 3-10 ldentify the characteristics of capital stock - 3-12 Show how issuing different classes of stock affects finaneial statements Newly formed $8 J iron Corporation hat 79.000 shares of $5 par common stock authorized On March 1, Year 1,58J iron issued 8.000 shares of the stock for $10 per share. On May 2. the company issued an additionat 37.000 shares for 518 per share, S8.J iron was not affected by other events during Year 1 Required a. Record the transactions in a horizontal statements modet in the Cash Flow column, indicate whether the item is an operating octivity (OA), investing activity (A), or financing activay (FA). If an element was not affected by the event, leave the ceil biank. b. Determine the amount 56J Iron would report for common stock on the December 31 , Year 1 , balance sheet c. Determine the amount 58J Iron would report for paid-in caphal in excess of par: d. What is the total amount of capital contributed by the owners? e. What omount of tohal aswets would \( \$ \& \)amp; J Iron report on the December 31 , Year 1 , balance sheet? Complete this question by entering your answers in the tabs below. Fecord the transactions in a horizontal statements model, In the Cast Flow column, indicate whether the item is an operoting activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the ces blank
