X Ltd. forfeited 800 shares of ₹10 each fully called up for non payment of final call of ₹3 per share. 300 of these shares were re-issued at ₹9 per share What is the amount to be transferred to Capital Reserve Account? (a) ₹3,500 (b) ₹2,100 (c) ₹3,200 (d) ₹1,800
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amount received from old shareholders = ₹7
amount received from new shareholders = ₹9
(-) called up value of shares = ₹10
gain per share = ₹6
no. of shares re-issued = 300
amount transferred to capital reserve = 300 × ₹6 = ₹1800
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