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CA CPT Model Test Paper 6 with solutions for online practice

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Question : 56

Total: 200

Mr. Bajaj who was the holder of 200 Equity shares of Rs. 100 each of Canny Ltd., on which only Rs. 75 per share has been called up, couldn’t pay his dues on allotment and first call each at Rs. 25 per share. The director forfeited the above shares and reissued 150 of such shares to Mr. Birla at Rs. 65 per share paid up as Rs. 75 per share. The amount to be transferred to capital reserve account will be

Rs. 1,500
Rs. 2,250
Rs. 2,750
Rs. 3,250

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