I only have five minutes to solve In business, the capital...
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Accounting
I only have five minutes to solve
In business, the capital factor is the pivotal part and the capital structure must be followed as per the law. In accordance with Oman Commercial Companies Law, Star Win SAOG Registered its capital of OMR 6,000,000 which was divided into 6,000,000 shares of OMR 1 each. The company had an issue of paid-up capital OMR 3 million with no arrears. In the year 2021, the company came up with an IPO of 2 million shares. The company received an application for 2.5 million shares. The company finalized the allotment on 2,000,000 shares and rejected the excess applications. The business called up 80% of its face value amount for the allotted shares. The company received entire call amount except for 5000 shares, the shareholders who failed to pay the call money. Evaluate this situation of the above company, Calculate the amount of different categories of share capital and prepare the abstract of SFOP by showing only Share capital for the year 2021. Maximum size for new files: 100MB
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