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Newly formed S& J Iron Corporation has 159.000 shares of $5 par comm.pdf

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Newly formed S\& J Iron Corporation has 159.000 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 16,000 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? Record the transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financin b. Determine the amount S\&J Iron would report for common stock on the December 31 , Year 1 , balance sheet. c. Determine the amount $8J 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 S8J Iron report on the December 31 , Year 1 , balance sheet?.

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Newly formed S& J Iron Corporation has 159.000 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 16,000 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? Record the transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financin b. Determine the amount S&J Iron would report for common stock on the December 31 , Year 1 , balance sheet. c. Determine the amount $8J 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 S8J Iron report on the December 31 , Year 1 , balance sheet?

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