Please solve it’s timed! Al Hayan LLC had issued 450,000 equityshares for OMR 1 per share. The company'sshare premium account showed a balanceof OMR 750,000. By capitalizing the sharepremium account it makes bonus issue as 1for 5 equity shares. Journalize theinformation.Dr. Share Premium OMR 90,000 Cr.Share capital OMR 90,000Dr. Share Premium OMR 450,000 Cr.Share capital OMR 450,000Dr. Share Premium OMR 750,000 Cr.Share capital OMR 750,000None of these

Number of bonus shares issued = 450,000/ 5 *1…

Answered: for 5 equity shares. Journalize the…

Business

Accounting

for 5 equity shares. Journalize the information.

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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Question

Please solve it’s timed!

Al Hayan LLC had issued 450,000 equity
shares for OMR 1 per share. The company's
share premium account showed a balance
of OMR 750,000. By capitalizing the share
premium account it makes bonus issue as 1
for 5 equity shares. Journalize the
information.
Dr. Share Premium OMR 90,000 Cr.
Share capital OMR 90,000
Dr. Share Premium OMR 450,000 Cr.
Share capital OMR 450,000
Dr. Share Premium OMR 750,000 Cr.
Share capital OMR 750,000
None of these

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