Q.No. 1 A company is formed on 1 January 2015 by issuing 4,000,000, RO 0.500 equity shares at a price of RO 0.500 each. Show the necessary entries to record this transaction, and what will appear in the Statement of Financial Position under the heading equity. The same company issued more shares on 30 June 2017. They issued another 2,000,000, RO 0.500 shares at a price of RO 0.800 each. Show the necessary entries to record this transaction, and what will now appear in the Statement of Financial Position. Assume Bank balance to be RO 2,000,000 before such issue. Q. No. 2 A company was formed on 1 March 2018 with an authorized capital of OMR 5 million divided into common stock of OMR 0.600 each. The company came up with an Initial Public Offer (IPO) by issuing 2,000,000 equity shares at OMR 0.600 each. Pass necessary journal entries and comments in the considering the following situation separately: a) If the shares are issued at par. b) If the shares are issued at a premium of OMR 0.300 c) If IPO is fully subscribed d) If IPO is oversubscribed by 3 times and the company rejected 1/3rd applications and for remaining made a pro-rata allotment of 2 : 1 and refunded the excess amount e) If IPO is subscribed upto 60%