B Ltd. forfeited 30 shares of ₹100 each, ₹70 called up on which Ashu had paid application and allotment money of ₹50 per share. Out of these 15 shares were re-issued to Yashu as fully paid up for ₹60 per share.

What amount should be transferred to Capital Reserve Account?

₹150

The correct answer is option 1- ₹150.

15 shares were re-issued to Yashu as fully paid up for ₹60 per share.
Amount Forfeited from Ashu on 15 shares = 15 X 50
                                                             = ₹750 (paid by Ashu)
Loss on account of reissue of these 15 shares = 15 x 40
                                                                  = ₹600
Capital Profit = 750- 600
                   = ₹150
This amount of ₹150 is transferred to capital reserve.