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Oxygen Company in Oman provided the following Statement of Financial position for the year ended 31st Dec 2019
Oxygen Company in Oman provided the following Statement of Financial position for the year ended 31st Dec 2019. ASSETS OMR OMR Non-current assets 136,000 Other current assets 80,000 Bank balance 16,000 96.000 Total Assets 232,000 EQUITY AND LIABILITIES Equity Ordinary Shares (OMRO.500 each) 80,000 Retained Earnings General Reserve 44,000 44,000 Current liabilities 168,000 Total Equity and Liabilities 64,000 232,000 On 1 January 2020, a further 700,000 Ordinary shares were issued at a price of OMR 1 each. Based on this information, Evaluate and prepare the summarized Statement of Financial Position as on 1 January 2020 after this issue of shares.
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