On 1st January 2015, the company issued 5,000 equity shares for OMR 0.400. The par value of the shares was OMR 0.500 each. On 30th October 2015, the company declared a dividend of OMR 0.050 per share. On 20th December 2015, the company paid the dividend.

What will be the journal entry for issue of share?

Identify the correct journal entry for payment of dividend:

Identify the correct journal entry for declaration of dividend:

Question 22 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text For the year 2020, the amortization schedule details are given below:

Interest expenses is OMR 36,000

Opening balance is OMR 295,000

Closing balance is OMR 250,000

Find the value of principal:

Question 23 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Mr. Ali purchased 500 shares at a cost price of OMR 8 per share and transaction cost is OMR 1 per share, the total cash paid at the time of purchase of shares would be:

Question 24 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text During the year ending December 31, 2018, Company A has Net Income of OMR 80,000 and pays dividend of OMR 20,000 to Company B. Identify the correct journal entry in the books of company B for receipt of dividend?

Question 25 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Famous Enterprise has issued OMR 2,000,000, 6.5% bonds on January 1st 2005 for 25 years at OMR 102. The bonds were called on December 31st 2014 by the corporation. What is the amount for amortized premium in this case?

Question 26 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text To have the join ownership in a company, an Investor must hold:

Question 27 Not yet answered Marked out of 6.00 Not flaggedFlag question Question text

2012

2011

Assets

OMR

OMR

Non-Current asset

22,398

21,698

Current assets

Stock

12,500

14,200

Debtors

8,700

6,700

Bank Balance

300

3,006

Account Receivables

8,750

10,500

Total assets

52,648

56,104

Equity and liabilities

Equity Share

8,898

11,352

Retained Earning

18,000

12,752

26,898

24,104

Non-current liabilities

8 % Bank Loan

2,000

5,000

5 % Bank Loan

2250

1750

Current liabilities

Creditors

8,750

6,500

Proposed Dividend

4,750

3,000

Bill Payables

2,000

1,900

Taxation

6,000

13,850

Total equity and liabilities

52,648

56,104

Other information:

1. Depreciation charges OMR 500

2. Loss on sale of asset OMR 800

3. Interest paid OMR 1,200

4. Purchase of new machine for OMR 4,000

5. Sold an old car for OMR 2,000

Calculate the profit before interest and tax(PBIT):

Find the value of operating profit before working capital changes:

Calculate the value of cash generated from operations:

Calculate the cash from financing activates:

Find out the cash from operating activities:

What will be the cash and cash equivalent at the beginning the year?

Question 28 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The company issued OMR 50,000, 5% bonds on January 1st 2015 for 10 years at OMR 95. The bonds were called on December 31st 2020 by the company. Calculate the amount of amortized discount