Question

A Company forfeited 100 shares of Rs 10 each, on which Rs 5 per share was already paid up. Out of them 70 shares are reissued at Rs 7 per share as fully paid up. The amount to be transferred to the Capital Reserve A/c will be : (a) Rs 350 (b) Rs 490 (c) Rs 140 (d) Rs 150

Answer 1

140 capital reserve transfer