Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding ordinary shares and 5% cumulative, non - participating, 5,000 shares authorized, OMR10 par value, 1000 shares issued and outstanding preference shares. The company repurchased 400 ordinary shares at a cost of OMR5 per share. The company later reissued 80% of these shares at a price of OMR6 per share. Determine the balance of the Treasury Shares account after these events:
Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding ordinary shares and 5% cumulative, non - participating, 5,000 shares authorized, OMR10 par value, 1000 shares issued and outstanding preference shares. The company repurchased 400 ordinary shares at a cost of OMR5 per share. The company later reissued 80% of these shares at a price of OMR6 per share. Determine the balance of the Treasury Shares account after these events:
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 6MCQ: Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were...
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Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding ordinary shares and 5% cumulative, non - participating, 5,000 shares authorized, OMR10 par value, 1000 shares issued and outstanding
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