Newly formed S&J Iron Corporation has 142,000 shares of $5 par common stock authortxed. On March 1, Year 1, S&J Iron issued 12,000 shares of the stock for $11 per share. On May 2, the company issued an additional 24,500 shares for $20 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactigns in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA). Investing activity (1A), or financing activity (FA). If an element was not affected by the event, leave the coll 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. Req A Reg to E Record the transactions in a horizontal statements model. In the cash How column, indicate whether the item is an operating activity (OA), inve activity (FA). If an element was not affected by the event, leave the cell blank. AJIRON CORPORATION Horizontal Statement Model Balance sheet Income Stament Stockholders' Equity Ravenue Common Pic in OL 60,000 72.000 Event Not Income Cash Flow Casti March 1 May 2 120,000 490,000 FA FA Regte > Newly formed S&J Iron Corporation has 142,000 shares of $5 par common stock authorized. On March 1 Year 1, S&J Iron issued 12,000 shares of the stock for $11 per share. On May 2, the company issued an additional 24,500 shares for $20 per share. S&J tron 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 (A), 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 Reg B to E b. Determine the amount 58 Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount S&J Tron 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 Saw Tron report on the December 31, Year 1, balance sheet? b. Common stock Paid in capital in excess of par d. Total paid in capital e. Totalt
