Newly formed S\& J Iron Corporation has 63,000 shares of $5 par common stock authorized. On Match 1, Year 1, S\&J lron issued 9,500 shares of the stock for $10 per share. On May 2, the company issued an additional 18,500 shares for $18 per share. S\&. 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 lron 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 pat. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would $8 J Iron report on the December 31 , Yeor 1, balance sheet? Complete this question by entering your answers in the tabs below. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whother the item is an operating activity (OA), investing activity (IA), on activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount S\&U 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\&U Iron report on the December 31 , Year 1 , balance sheet?
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Newly formed S-& J Iron Corporation has 63-000 shares of $5 par common.docx
1. Newly formed S& J Iron Corporation has 63,000 shares of $5 par common stock authorized. On
Match 1, Year 1, S&J lron issued 9,500 shares of the stock for $10 per share. On May 2, the
company issued an additional 18,500 shares for $18 per share. S&. 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 lron 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 pat. d. What is the total amount of capital contributed by the owners? e. What amount
of total assets would $8 J Iron report on the December 31 , Yeor 1, balance sheet? Complete this
question by entering your answers in the tabs below. Record the transactions in a horizontal
statements model. In the Cash Flow column, indicate whother the item is an operating activity
(OA), investing activity (IA), on activity (FA). If an element was not affected by the event, leave
the cell blank. b. Determine the amount S&U 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&U Iron report on the December 31 , Year 1 , balance
sheet?
