The director of a limited company resolved to forfeit 1000 equity shares of Rs. 10 each; Rs. 7.50 paid up for non-payment of the final call money of Rs. 2.50 per share. 700 of these forfeited shares were reissued at Rs. 7 per share. The amount to be transferred to the capital reserve would be
A. Rs. 2,500
B. Rs. 1,500
C. Rs. 3,500
D. Rs. 3,150
Answer: Option D
This Question Belongs to Commerce >> Accounting
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