Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding ordinary shares and 5% cumulative, non-participating, 5,000 shares authorized, OMR10 par value, 1000 shares issued and outstanding preference shares. The company repurchased 400 ordinary shares at a cost of OMR5 per share. The company later reissued 20% of these shares at a price of OMR6 per share. Determine the balance of the Treasury Shares account after these events: Select one: O a. OMR320 O b. OMR480 O C. OMR400 O d. OMR1,600

Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding ordinary shares and 5% cumulative, non-participating, 5,000 shares authorized, OMR10 par value, 1000 shares issued and outstanding preference shares. The company repurchased 400 ordinary shares at a cost of OMR5 per share. The company later reissued 20% of these shares at a price of OMR6 per share. Determine the balance of the Treasury Shares account after these events: Select one: O a. OMR320 O b. OMR480 O C. OMR400 O d. OMR1,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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