Homework Answers
Answer:- Option D Credit to share capital-ordinary for OMR 1,500,000
Explanation , When shares are issued at a premium, the premium amount is credited to a separate account called " securities premium account " because it is not a part of share capital. Rather it represents a gain of a capital nature to the company
JOURNAL ENTRY
on receipt of amount
Bank A/C Dr 2,250,000
To Share application A/C 2,250,000
Share application A/C Dr 2,250,000
To Share capital - ordinary A/C 1,500,000
To Securities premium A/C 750,000
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