| X Ltd. forfeited the following shares: |
| Forfeited 1000 shares of Ram for non-payment of final call of Rs.4 per share |
| Forfeited 500 shares of Shyam for non-payment of first and final call of Rs.5 per share |
| Out of the above forfeited share 1200 shares are reissue at 9 per share as fully paid up, which includes all the shares of Ram. |
| Amount transferable to capital reserve will be: |
A) 7,300
B) 5,550
C) 5,800
D) 6,000
Correct Answer: C
Solution :
5,800
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