Newly formed S & J Iron Corporation has 64,000 shares of $ 4 par common stock...

Newly formed S & J Iron Corporation has 64,000 shares of $ 4 par common stock authorized . On March 1 , Year 1 , S & J Iron issued 11,000 shares of the stock for $ 12 per share . On May 2 , the company issued an additional 17,500 shares for $ 18 per share . S & J 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 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 ?

Expert Solution

Answer :-

Formulas :-

Explanations :-

Answer 5 : there is no Liability in the financial books of accounts, So Stock holder's Equity is equals to the total asset, There for the the Total asset is $4,47,000 which is the amounts of Total Stock holder's Equity

ekkarill92 answered 1 year ago

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