Answers
Requirement A |
|||||||||
Event |
Cash |
Liabilities |
Common Stock |
PIC in Excess |
Revenues |
Expenses |
Net Income |
Cash Flow |
|
Mar-01 |
$108,000 |
$54,000 |
$54,000 |
$108,000 |
FA |
||||
May-02 |
$332,500 |
$105,000 |
$227,500 |
$332,500 |
FA |
||||
$440,500 |
$0 |
$159,000 |
$281,500 |
$0 |
$0 |
$0 |
$440,500 |
$0 |
--Working
Requirement A |
|||||||||
Cash |
Liabilities |
Common Stock |
PIC in Excess |
Revenues |
Expenses |
Net Income |
Cash Flow |
||
=9000*12 |
=9000*6 |
=9000*6 |
=9000*12 |
FA |
|||||
=17500*19 |
=17500*6 |
=17500*13 |
=17500*19 |
FA |
b. |
Common Stock |
$159,000 |
c. |
Paid in Capital in Excess of Par |
$281,500 |
d. |
Total Paid in Capital |
$440,500 |
e. |
Total Assets |
$440,500 |
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par common stock authorized. On March 1, 2018, S&J Iron issued
11,500 shares of the stock for $11 per share. On May 2, the company
issued an additional 16,500 shares for $22 per share. S&J Iron
was not affected by other events during 2018. 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),...
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1.
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please help!!
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