The director of 'M' Ltd., resolved to forfeit 2,000 equity shares of Rs. 10 each Rs. 7.50 per share paid up for non-payment of Final call of Rs. 2.50 per share. 1,000 of the forfeited shares were reissued of Rs. 6 per share fully paid up. Capital Reserve Account will be credited by
A. Rs. 3,500
B. Rs. 7,500
C. Rs. 9,000
D. Rs. 11,000
Answer: Option A
This Question Belongs to Commerce >> Accounting
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