Z & Co. forfeited 100 shares of 10 Rs. each for non-payment of final call of 2 Rs. per share. All the forfeited shares were re-issued at 9 Rs. per share. What amount will be transferred to Capital Reserve A/c ?
A. 700 Rs.
B. 800 Rs.
C. 900Rs.
D. 1,000 Rs.
Answer:A
Z & Co. forfeited 100 shares of 10 Rs. each for non-payment of final call of 2 Rs. per share. All the forfeited shares were re-issued at 9 Rs. per share. What amount will be transferred to Capital Reserve A/c ?
A. 700 Rs. B. 800 Rs. C. 900Rs. D. 1,000 Rs.