Exercise 2

Bright Corporation was incorporated on January 1, 2021. It was authorized to issue

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b) 200000 ordinary shares with par value of P50.

2021 Memorandum
Jan 2 Cash 2750000
Ordinary Share Capital 2500000
Preference Share Capital 250000

10 Cash 2750000
Ordinary share capital 2500000
Share premium - ordinary 50000
12 Cash
Preference Share Capital 250000
Share Premium - preference
Feb 3 Store Furniture
Ordinary share capital

May 5 Cash 6750000

Ordinary share capitla

Jun 2 Cash
Preference share capital
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6E+16
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