amount transferred to capital reserve???

anyone reply plz

Share Capital A/c Dr 6.5

Share Final Call A/c 3.5

 To Discount 1

To party 3.5(Based on the fact the debtors have been booked)

To Capital Reserve 5.5(based on the fact that this money will not be used for reissue of shares)

Dear,

No amount will be transferred to capital reserve until re- issue of forfeited shares. Tell me re-issued price then I can able to answer your question.

right..

in simple words, amount collected on calls till date will be transferred to forfeiture a/c

discount(if any) on re-issue of these shares will be adjusted wit forfeiture a/c and balance if any, will be transferred to capital reserve, so entries wud be

Share Capital A/c Dr 6.5

Share Final Call A/c 3.5

 To Discount 1

 To party 3.5

 To Share forfeiture 5.5

on reissue

bank xx

share forfeiture xx (to the extent discount allowed, if any)

  To Share capital xx

  To Capital reserve xx (bal. after discount adjusted)