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 issued 300 ordinary shares and 100 preference shares for a total lump - sum price of OMR5,000. How much would be the value of ordinary shares assuming that ordinary shares and preference shares have fair market values of OMR8 per share and OMR16 per share respectively.

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 issued 300 ordinary shares and 100 preference shares for a total lump - sum price of OMR5,000. How much would be the value of ordinary shares assuming that ordinary shares and preference shares have fair market values of OMR8 per share and OMR16 per share respectively.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...

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