Question: XYZ SAOG issues 5,000,000 6% Redeemable preference stock with a par value of OMR 1 at a premium issue price of OMR 1.100 on 1st

XYZ SAOG issues 5,000,000 6% Redeemable preference stock with a par value of OMR 1 at a premium issue price of OMR 1.100 on 1st Jan 2019. Give journal entry and show statement of financial position assuming that the company has equity share capital of OMR 1,400,000, Land and Building OMR 500,000 and Heavy equipment of OMR 900,000

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