BCD Ltd. invited applications for 100000 shares of ₹10 each which is payable as follows-
Application - ₹2
Allotment - ₹3
First and final Call - Balance amount
Applications for 300000 shares is received by the company. The Company made pro-rata on the all applicants and adjust excess money towards allotment only. Mr. A shareholder who had applied for 3000 shares failed to pay call money due to which company forfeited his shares and reissued at ₹8 per share as fully paid.

How much amount will be transferred to the capital reserve?

₹3000

The correct answer is option 3- ₹3000

Journal entry for the forfeiture of shares of Mr. A is-
Share Capital A/c   Dr. (1000 x 10) ₹10000
          To Share first and final Call (1000 x 5) ₹5000
          To Share forfeiture A/c (1000 x 5)        ₹5000
(Forfeiture of 1000 shares on which ₹5 is received and final call not received)

Journal entry for reissue of shares-
Bank A/c         Dr. (1000x 8) ₹8000
Share forfeiture A/c D. (1000 x 2) ₹2000
       To Share Capital A/c (1000 x 10)    ₹10000

Amount transferred to capital reserve is 5000 - 2000
                                                             = ₹3000
Journal entry for this =
Share forfeiture A/c Dr. ₹3000
       To Capital reserve        ₹3000

NOTE-
No. of shares applied = 3000
Who applied for 300000 got 100000 shares.
So, Mr. A allotted = 100000/300000 x 3000
                         = 1000 shares.