The director of Priya polymer Limited resolved that 200 equity shares of Rs. 100 each be forfeited for non-payment of the second and final call of Rs. 30 per share. Out of these, 150 shares were re-issued at Rs. 60 per share to Monit. The amount of capital reserve will be:

Looking at the forfeiture and re-issue details:

Understanding what was received before forfeiture:

Face value per share = Rs. 100

Amount not paid (second and final call) = Rs. 30 per share

Amount already received per share = Rs. 100 - Rs. 30 = Rs. 70 per share

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For the 150 shares re-issued:

Amount in Share Forfeiture Account for these 150 shares = 150 × Rs. 70 = Rs. 10,500

Re-issue price per share = Rs. 60

Since shares are re-issued at Rs. 60 against face value of Rs. 100, there is a discount of Rs. 40 per share.

Loss on re-issue for 150 shares = 150 × Rs. 40 = Rs. 6,000

This loss is debited to Share Forfeiture Account.

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Capital Reserve calculation:

Capital Reserve = Amount in Share Forfeiture A/c (for re-issued shares) - Loss on re-issue

Capital Reserve = Rs. 10,500 - Rs. 6,000 = Rs. 4,500

The forfeited amount relating to re-issued shares, after adjusting for the loss on re-issue, is transferred to Capital Reserve.

Answer: Option 2: Rs. 4,500