Question
GK Ltd. forfeited 500 shares of Rs. 10 each, fully
called up, and held by Mr. Rakesh for non-payment of allotment money of Rs. 4 per share and first and final call money of Rs. 3 per share. These shares were re-issued @ Rs. 8 per share to Ms. Garima. What is the amount to be transferred to Capital Reserve?Solution
The correct answer is D
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