Question

J Ltd. reissued 2,000 shares which were forfeited by crediting share forfeiture account by Rs. 3,000. These shares were reissued at Rs. 9 Per share. The amount transferred to Capital Reserve will be: (a) Rs. 3,000 (b) Rs. 2,000 (c) Rs. 1,000 (d) NIL

Answer 1

1000 rs transfer to capital reserve account