The directors of a company forfeited 400 equity shares of ₹10 each fully called up on which ₹1,600 had been paid. All the forfeited shares were reissued upon payment of ₹3,000. Calculate the amount transferred to Capital Reserve.

₹600

Share Capital A/c    Dr.            ₹4000
          To Share forfeiture A/c              ₹1600
           To share call A/c                      ₹2400
(Shares forfeited)

Bank A/c               Dr.               ₹3000
Share forfeiture A/c                   ₹1000
    To share capital A/c                            ₹4000
(Reissue of shares)

Amount transferred to capital reserve =   1600 - 1000
                                                        = ₹600