Aquafina Company has 500,000 OMR 1 common shares as on 31 July 2018.The company makes a right issue by offering 1 new share for every 3 shares held, at OMR 1.20 each. Assuming bank to have a balance of RO 150,000 before the issue. Calculate the amount of right shares.
Aquafina Company has 500,000 OMR 1 common shares as on 31 July 2018.The company makes a right issue by offering 1 new share for every 3 shares held, at OMR 1.20 each. Assuming bank to have a balance of RO 150,000 before the issue. Calculate the amount of right shares.
Chapter1: Financial Statements And Business Decisions
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![Aquafina Company has 500,000 OMR 1
common shares as on 31 July 2018.The
company makes a right issue by offering 1
new share for every 3 shares held, at OMR
1.20 each. Assuming bank to have a
balance of RO 150,000 before the issue.
Calculate the amount of right shares.
OMR 200,000
O OMR 300,000
OMR 400,000
None of these](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe9483d6b-4d9f-4481-b5c8-536e81e809bc%2F7c779b72-ab19-48a9-b8a7-73cc17ee0631%2F4nfhn5u_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Aquafina Company has 500,000 OMR 1
common shares as on 31 July 2018.The
company makes a right issue by offering 1
new share for every 3 shares held, at OMR
1.20 each. Assuming bank to have a
balance of RO 150,000 before the issue.
Calculate the amount of right shares.
OMR 200,000
O OMR 300,000
OMR 400,000
None of these
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