Covid 21 Company was formed on 1 January 2021 with an authorized capital of OMR 800,000 divided into common stock of OMR 0.600 each. During the year, the business came up with an Initial Public Offer (IPO) of issuing 500,000 equity shares at OMR 0.900 each. The IPO is oversubscribed by 4 times and the company rejected 1/4th applications and for remaining made a pro-rata allotment of 2: 1. By using these data, show the total number of shares will be used for allotment by using pro rata basis. a.  4,000,000 b.  800,000 c.  5,000,000 d.  1,500,000

Q: ABC Ltd was registered as a corporation on 1 July 2012. On 4 July 2012, ABC Ltd issued a prospectus…

A: Issue of shares is one of the sources from where funds can be arranged by the company or business.…

Q: Onix Limited made an offer to the public via a prospectus of 1,000,000 shares with an issue price of…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: On 1 July 2021, Sydney Ltd issued a prospectus inviting applications for 400,000 ordinary shares, at…

A: Shareholder equity means the amount that belong to the owner of the company i.e. share holder.…

Q: During its first year of operations, Cupola Fan Corporation issued 34,000 of $1 par Class B shares…

A: According to the given question, we are required to prepare the journal entries. Journal entries:…

Q: Dakota Skye opened Clean 4 U, Inc. on March 1, 2023. During March, the following transactions were…

A: The journal entries are the initial record of the transactions in the books of accounts, the ledger…

Q: Celestial Inc. issued 8,000 shares of its P10 par ordinary shares to a CPA for 600 hrs. of…

A: The company's main source of funding is its share capital. There are two sorts of shares. Ordinary…

Q: ABC Company was organized on January 1, 2022 with 100,000 authorized shares of P100 par value.…

A: Share premium account shows the difference between the par value of shares issued and the issue…

Q: Southern Cross Ltd issued a prospectus for the issue of 150,000, $6 shares on 1 January 2022. The…

A: Journal Entry :— It is an act of recording transaction in book of account when it is occured for…

Q: Pheonix Limited made an offer to the public via a prospectus of 1,000,000 shares with an issue price…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Select Ltd is registered with an authorised share capital of 300,000 ordinary shares of Ksh.1. The…

A: Answer -    Part 1 -

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.