MUSCAT SAOG has registered its capital as 5,000,000 divided into 5,000,000 shares of OMR 1 each. The company offered 3,000,000 shares of OMR 1 each to the public for subscription. The Initial Public offer by the company was oversubscribed by 3 times and the company rejected 1/3rd of the applications and the remaining shares were made on a pro-rata allotment of 2: 1 and refunded the excess amount. The company called up OMR 0.700 baisa per share. The company received the entire call amount except on 50,000 shares who did not pay the call amount The amount of calls in arrears was: a. OMR 35,000 b. OMR 15,000 c. OMR 2,065,000 d. OMR 3,000,000
MUSCAT SAOG has registered its capital as 5,000,000 divided into 5,000,000 shares of OMR 1 each. The company offered 3,000,000 shares of OMR 1 each to the public for subscription. The Initial Public offer by the company was oversubscribed by 3 times and the company rejected 1/3rd of the applications and the remaining shares were made on a pro-rata allotment of 2: 1 and refunded the excess amount. The company called up OMR 0.700 baisa per share. The company received the entire call amount except on 50,000 shares who did not pay the call amount The amount of calls in arrears was: a. OMR 35,000 b. OMR 15,000 c. OMR 2,065,000 d. OMR 3,000,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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MUSCAT SAOG has registered its capital as 5,000,000 divided into 5,000,000 shares of OMR 1 each. The company offered 3,000,000 shares of OMR 1 each to the public for subscription. The Initial Public offer by the company was oversubscribed by 3 times and the company rejected 1/3rd of the applications and the remaining shares were made on a pro-rata allotment of 2: 1 and refunded the excess amount. The company called up OMR 0.700 baisa per share. The company received the entire call amount except on 50,000 shares who did not pay the call amount
The amount of calls in arrears was:
a.
OMR 35,000
b.
OMR 15,000
c.
OMR 2,065,000
d.
OMR 3,000,000
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