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    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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    ParCor Chapter 6 answer

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    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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    36 views2 pages

    ParCor Chapter 6 Answer

    Uploaded by

    kogigi2205
    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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    © All Rights Reserved
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    of 2

    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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