Oxygen Company in Oman provided the following Statement of Financial position for the year ended 31st...

 

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Oxygen Company in Oman provided the following Statement of Financial position for the year ended 31st Dec 2019. ASSETS OMR Non-current assets Other current assets Bank balance Total Assets EQUITY AND LIABILITIES Equity Ordinary Shares (OMRO.500 each) Retained Earnings General Reserve Current liabilities Total Equity and Liabilities 80,000 16,000 OMR 136,000 96.000 232,000 80,000 44,000 44,000 168,000 64,000 232,000 On 1 January 2020, a further 700,000 Ordinary shares were issued at a price of OMR 1 each. Based on this information, Evaluate and prepare the summarized Statement of Financial Position as on 1 January 2020 after this issue of shares. Oxygen Company in Oman provided the following Statement of Financial position for the year ended 31st Dec 2019. ASSETS OMR Non-current assets Other current assets Bank balance Total Assets EQUITY AND LIABILITIES Equity Ordinary Shares (OMRO.500 each) Retained Earnings General Reserve Current liabilities Total Equity and Liabilities 80,000 16,000 OMR 136,000 96.000 232,000 80,000 44,000 44,000 168,000 64,000 232,000 On 1 January 2020, a further 700,000 Ordinary shares were issued at a price of OMR 1 each. Based on this information, Evaluate and prepare the summarized Statement of Financial Position as on 1 January 2020 after this issue of shares.

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Statement of financial position as on 1 January2020 ASSETS Noncurrent Assets ... View the full answer