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ParCor Chapter 6 Answer

The document shows accounting transactions for B. Sorima Corporation between January 2002 and June 2019. It records the issuance of shares, cash received in exchange for shares, and purchases of building and inventory. By June 2019, the company had total share capital of $4,920,000 comprising preference shares, issued ordinary shares, and share premium from sales of stock above par value.

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337 views2 pages

ParCor Chapter 6 Answer

The document shows accounting transactions for B. Sorima Corporation between January 2002 and June 2019. It records the issuance of shares, cash received in exchange for shares, and purchases of building and inventory. By June 2019, the company had total share capital of $4,920,000 comprising preference shares, issued ordinary shares, and share premium from sales of stock above par value.

Uploaded by

kogigi2205
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Problem 9 B.

Sorima
Jan-01 Unissued Ordinary Shares 10,000,000 Share Capital
Authorized Ordinary Shares 10,000,000 Preference Shares
Share Premium
Jan-02 Cash 2,400,000 Issued Ordinary Shares
Share Premium 1,400,000 Share Premium
Ordinary Shares 1,000,000 Total Share Capital

Jan-03 Building 820,000 B. Sorima


Merchandise Inventory 380,000 Share Capital
Share Premium 700,000 Ordinary Shares
Ordinary Shares 500,000 Share Premium

Jan-04 Organization Expense 10,000


Cash 10,000

Jan-05 Cash 1,320,000


Share Premium 120,000
Preference Shares 1,200,000

june 4 2019 Cash 1,500,000


Share Prermium 1,000,000
Ordinary Shares 500,000

Problem 11
May-08 Subscriptions Receivable 147,000
Subscribed Ordinary Shares 147,000

Jun-07 Cash 84,000


Subscriptions Receivable 84,000

Jul-06 Cash 63,000


Subscriptions Receivable 63,000

Sep-14 Subscriptions Receivable 55,040


Share Premium 3,440
Subscribed Ordinary Shares 51,600
B. Sorima Corporation Shareholder's Equity 2018
Share Capital
Preference Shares 1,200,000
Share Premium 120,000 1,320,000
Issued Ordinary Shares 1,500,000
Share Premium 2,100,000 3,600,000
Total Share Capital 4,920,000

B. Sorima Corporation Shareholder's Equity 2019


Share Capital
Ordinary Shares 500,000
Share Premium 1,000,000
1,500,000

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