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 20% of these shares at a price of OMR6 per share. Determine the balance of the Treasury Shares account after these events: Select one: O a. OMR320 O b. OMR480 O C. OMR400 O d. OMR1,600

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 20% of these shares at a price of OMR6 per share. Determine the balance of the Treasury Shares account after these events: Select one: O a. OMR320 O b. OMR480 O C. OMR400 O d. OMR1,600

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 10EB: Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first...

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