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. 4500

The correct answer is Option (3) → Rs. 4500

• Amount forfeited per share (paid before forfeiture) = ₹100 − ₹30 = ₹70.

• For 150 reissued shares: forfeited amount = 150 × 70 = ₹10,500.

• Reissue at ₹60 (as fully paid) ⇒ discount = ₹100 − ₹60 = ₹40 per share.

• Discount on reissue = 150 × 40 = ₹6,000 (debited to Share Forfeiture A/c).

• Transfer to Capital Reserve = 10,500 − 6,000 = ₹4,500.