1. On 31 December 2020 a company's capital structure was as follows: Ordinary share capital OMR 7,500,000 shares of 0.500 baiza each. Share premium account OMR 70000 A. During the year ended 31 December 2020, the company made a rights issue of 2 share for every 4 held at OMR 1 per share and this was taken up in full. B. Later in the year, the company made a bonus issue of 3 share for every 6 shares held, using the share premium account for the purpose. Journalize the following transactions and show the working along with the abstract of balance sheet.

1. On 31 December 2020 a company's capital structure was as follows: Ordinary share capital OMR 7,500,000 shares of 0.500 baiza each. Share premium account OMR 70000 A. During the year ended 31 December 2020, the company made a rights issue of 2 share for every 4 held at OMR 1 per share and this was taken up in full. B. Later in the year, the company made a bonus issue of 3 share for every 6 shares held, using the share premium account for the purpose. Journalize the following transactions and show the working along with the abstract of balance sheet.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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