The director of Poly Plastic Limited resolved that 200 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 150 shares were re-issued at Rs.60 per share to Mohit. Profit on reissue of forfeited shares transferred to capital reserve. Amount credited to capital reserve account is- |
Rs. 5400 Rs. 6000 Rs. 4500 Rs. 9000 |
Rs. 4500 |
The correct answer is Option (3) → Rs. 4500 |