12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
X Ltd. forfeited 500 shares of Rs.10 each issued at a premium of 20% for non-payment of allotment (including premium) and first and final call of Rs.9 per share. 300 of these shares were reissued at Rs.7 per share as fully paid up. Amount to be transferred to capital reserve will be: