Question: 2. ABC SAOG issues 1,000,000 7% Redeemable preference stock with a par value of OMR 1 at a premium issue price of OMR 1.050

2. ABC SAOG issues 1,000,000 7% Redeemable preference stock with a par

2. ABC SAOG issues 1,000,000 7% Redeemable preference stock with a par value of OMR 1 at a premium issue price of OMR 1.050 on 1st Jan 2017. Give journal entry and show statement of financial position assuming that the company has equity share capital of OMR 1,000,000, Land and Building OMR 300,000 and Heavy equipment of OMR 700,000 Date Particulars Debit Credit Statement of Financial Position (Abstract) Assets Equity & Liabilities: TOTAL

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