amount transferred to capital reserve???

Harish (CS Executive) (386 Points)

16 May 2010  

  1. A company issues 10000 shares of Rs. 10 each at a discount of 10% payable as follows:  On application Rs. 2.50, on allotment Rs. 3.00, on first and final call Rs. 3.50.  A holder of 100 shares did not pay the final call and his shares were forfeited.  Amount transferred to capital reserve will be? Please show entries.