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Calculate the amount of different categories of share capital and prepare the abstract of SFOP

Calculate the amount of different categories of share capital and prepare the abstract of SFOP

FINANCIAL ACCOUNTING
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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The nominal capital of the JK SAOG was OMR Share Capital Authorized or Registered or Nominal Capital: OMR 5,000,000 which was divided into shares equal to 10,000,000. The company has in issue paid up Issued Capital: capital of OMR 2 million with no arrears. In the Subscribed Capital: year 2020 the company came up with an IPO of 1 million shares. The company received an Called-up Capital: application for 1.5 million shares. The company Paid-up Capital: rejected the excess application and called up 75% of its face value amount for the allotted shares. 2 shareholders who were allotted 2,000 shares each failed to pay the call money. Assets: Called up capital not yet paid Calculate the amount of different categories of Bank (Called up capital paid) share capital and prepare the abstract of SFOP
Transcribed Image Text:The nominal capital of the JK SAOG was OMR Share Capital Authorized or Registered or Nominal Capital: OMR 5,000,000 which was divided into shares equal to 10,000,000. The company has in issue paid up Issued Capital: capital of OMR 2 million with no arrears. In the Subscribed Capital: year 2020 the company came up with an IPO of 1 million shares. The company received an Called-up Capital: application for 1.5 million shares. The company Paid-up Capital: rejected the excess application and called up 75% of its face value amount for the allotted shares. 2 shareholders who were allotted 2,000 shares each failed to pay the call money. Assets: Called up capital not yet paid Calculate the amount of different categories of Bank (Called up capital paid) share capital and prepare the abstract of SFOP
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