Suncity Corporation was formed on 1 April 2016 with an authorized capital of OMR 8,000,000 divided into common stock of OMR 0.500 each. During the year, the business came up with an Initial Public Offer of issuing 4,000,000 equity shares at OMR 0.800 each. How would you record the above premium value issue?

a.

Equity share capital Dr 3,200,000 OMR/ Bank Cr 3,200,000 OMR

b.

Bank Dr 3,200,000 OMR / Equity share capital Cr 2,000,000 OMR/ Share premium Cr 1,200,000 OMR

c.

Bank Dr 4,000,000 OMR / Equity share capital Cr 4,000,000OMR

d.

Equity share capital Dr 4,000,000 OMR/ Bank Cr 4,000,000 OMR

with out explean