Please do not give images format Newly formed S&J Iron Corporation has 64,000 shares of $6 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000shares of the stock for $12 per share. On May 2, the company issued an additional 23,500 shares for $21 per share. S&J Iron was notaffected by other events during Year 1.Requireda. 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 pard. 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?1. Prepare journal entries to record the March 1 and May 2 transactionsComplete this question by entering your answers in the tabs below.Req AReg FRecord the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing actifinancing activity (FA) Leave blank to indicate that an element was not affected by the event.)EventReg B to EMarch 1May 2AssetsCashBalance SheetLiabilitiesS&J IRON CORPORATIONHorizontal Financial Statements ModelStockholders' EquityCommonStockPaid in Capitalin ExcessRevenueIncome StatementExpenseNet IncomeReq8 to E >Statement of CashFlows Newly formed S&J Iron Corporation has 64,000 shares of $6 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000shares of the stock for $12 per share. On May 2, the company issued an additional 23,500 shares for $21 per share. S&J Iron was notaffected by other events during Year 1.Requireda. 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?t. Prepare journal entries to record the March 1 and May 2 transactions.Complete this question by entering your answers in the tabs below.Req AReq B to Eb. 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.b.c.d.e Total assetsReq Fd. 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?Common stockPaid-in capital in excess of parTotal paid-in capital< Req ARegF >Show less A

Accounting Equation Is Total Assets Equal To Total Liabilities And Stockholders' Equity. (Total…

orporation has 64,000 shares of $6 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000 wares of the stock for $12 per share. On May 2, the company issued an additional 23,500 shares for $21 per share. S&J Iron was not ected by other events during Year 1. quired Record the transactions in a horizontal statements model Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet. Determine the amount S&J Iron would report for paid-in capital in excess of par