ewly formed S&J Iron Corporation has shares of $ par common stock authorized. On March Year S&J Iron issued shares of the stock for $ per share. On May the company issued an additional shares for $ per share. S&J Iron was not affected by other events during Year
Required
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.
Determine the amount S&J Iron would report for common stock on the December Year balance sheet.
Determine the amount S&J Iron would report for paidin capital in excess of par.
What is the total amount of capital contributed by the owners?
What amount of total assets would S&J Iron report on the December Year balance sheet?
