Oman airports repurchases 4500 shares of its own common stock from stockholders. The par value of the share is OMR 15 and the company reacquires it for OMR 90. Choose the correct journal entry to record the situation. Dr. Treasury stock 405,000 Cr. Share capital 405,000 Dr. Treasury stock OMR 405,000 Cr. Bank OMR 405,000 Dr. Bank 405,000 Cr. Treasury stock 405,000 None of these

Oman airports repurchases 4500 shares of its own common stock from stockholders. The par value of the share is OMR 15 and the company reacquires it for OMR 90. Choose the correct journal entry to record the situation. Dr. Treasury stock 405,000 Cr. Share capital 405,000 Dr. Treasury stock OMR 405,000 Cr. Bank OMR 405,000 Dr. Bank 405,000 Cr. Treasury stock 405,000 None of these

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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