Part 2 ka capital reserve amount??

Dear Student,
PARTICULARS AMOUNT(DR.) AMOUNT(CR.)
1) Share Capital(60×20)         Dr.
           To share forfeiture ac(20×20)
          To calls-in-arrears ac(40×20)
{20 shares forfeited, Rs.60 called up}
1200



 
400
800

 
2) Share Forfeiture ac( 15×15) Dr.
    Bank ac (45×15)                     Dr.
                 To Share Capital ac (60×15)
{ 15 shares reissued at Rs.60 paid up, for Rs 45 per share}

3) Share forfeiture ac                   Dr.
            To Capital Reserve ac 
{ Transfer of capital profit to capital profit to capital reserve ac}
225
675





​​​​​​75
 


900




75

Profit on forfeiture on 20 shares= Rs.400
Profit on forfeiture of 1 share= 400/20= Rs.20
Profit on forfeiture on 15 shares = Rs. 20×15= Rs.300
(-) Loss/discount provided on re-issue of those 15 shares= Rs.225
​​​​​​Profit(net) on re-issue of 15 shares = Rs. 300-Rs.225=Rs.75
This amount is the capital profit of the firm, so, it will be transferred to the capital reserve account.
Regards
 

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