M. Ltd. forfeited 50 shares of Rs. 100 each issued to X (Rs. 80 called up) on which the allotment money of Rs. 30 and the first call money of Rs. 20 have not been received. The company reissued these shares @ Rs. 90 per share as fully paid up. The amount to be transferred to Capital Reserve Account would be:

A. Rs. 500

B. Rs. 1,000

C. Rs. 1,500

D. Rs. 2,000

Answer: Option B