Rajiv Limited forfeited 20 shares of Rs. 10 each on which Rs. 6 per share had been paid. Out of these, 10 shares are re-issued as fully paid at a price of Rs. 5.50 per share. The amount to be transferred to Capital Reserve Fund would be:
A. Rs. 10
B. Rs. 12
C. Rs. 15
D. Rs. 18
Answer: Option C
This Question Belongs to Commerce >> Accounting
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