Khalid Bin Ahammed company issues 600,000 shares worth OMR 1 at a price of OMR 1.200 per share. How much amount of share premium to be recorded in the share capital account? OMR 600,000 None of these OMR 120,000 OMR 720,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...
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Khalid Bin Ahammed company issues 600,000 shares worth OMR 1 at a price of OMR 1.200 per share. How much amount of
share premium to be recorded in the share capital account?
OMR 600,000
None of these
OMR 120,000
OMR 720,000
Transcribed Image Text:Khalid Bin Ahammed company issues 600,000 shares worth OMR 1 at a price of OMR 1.200 per share. How much amount of share premium to be recorded in the share capital account? OMR 600,000 None of these OMR 120,000 OMR 720,000
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