Lamsal Ltd. forfeited 400 shares of Rs10 each, Rs7 called up, for non-payment of first call of Rs2 per share. Out of these, 300 shares were reissued for Rs6 per share as Rs7 paid up. What is the amount to be transferred to Capital Reserve Account?
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share capital. dr 2800
To share first call 800
To share forfeiture 2000
bank a/c. dr 1800
share forfeiture dr 300
To share capital. 2100
share forfeiture dr 1200
To capital reserve. 1200
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