PQR SAOG issues 1,000,000 7% Redeemable preference stock with a par value of OMR1 at a premium issue price of OMR1.200 on 1st Jan 2019. Which of the following is TRUE for Debit entry?

a.

Bank account with OMR1,200,000

b.

7% redeemable preference shares account with OMR1,200,000

c.

Share premium OMR200,000

d.

Bank account with OMR1,000,000

PQR SAOG has issued and paid up capital of OMR 2 million OMR 1 par value common stock. The current market price of each share is OMR 3. The company board decided a 4-for-1 stock split. The number of shares outstanding after the stock split should be

a.

8,000,000

b.

500,000

c.

24,000,000

d.

2,000,000

ABC Company re-acquired 500 shares of outstanding shares for OMR 2 each on 10th October 2019. The company re-issued 400 shares for OMR 1.600 each on 10th November 2019. Which of the following Journal entry is Correct for re-issue of shares on 10th November 2019?

a.

Debit Treasury Stock 1000 Credit Share Premium 200 Credit Bank OMR 800

b.

Debit Bank OMR 640, Debit Share Premium OMR 160 and Credit Treasury Stock OMR 800

c.

Debit Treasury Stock 800 Credit Share Premium 160 Credit Bank OMR 640

d.

Debit Bank OMR 800, Credit Share Premium OMR 160 and Credit Treasury Stock OMR 640