Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,000. These shares were re-issued at ₹ 9 per share. The amount transferred to capital reserve will be :
A. ₹ 3,000
B. ₹ 2,000
C. ₹ 1000
D. Nil
Answer:C
Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,000. These shares were re-issued at ₹ 9 per share. The amount transferred to capital reserve will be :
A. ₹ 3,000 B. ₹ 2,000 C. ₹ 1000 D. Nil