A company issued 1,00,000 equity shares of the face value of Rs. 100 each at Rs. 100 per share. So far Rs. 75 per share has been called up including Rs. 25 on allotment and Rs. 25 on first call. X to whom 200 shares were issued failed to pay the first call. His shares were forfeited and re-issued to Y at Rs. 70 per share as fully paid-up. The amount to be transferred to Capital Reserve a/c would be:
A. Rs. 4,000
B. Rs. 6,000
C. Rs. 8,000
D. Rs. 10,000
Answer: Option A
This Question Belongs to Commerce >> Accounting
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