(Calculation of Gain on reissue when only a Part of Shares Forfeited are reissued).
Alok Ltd. forfeited 300 Equity Shares of Rs. 10 each, fully called-up, held by Ram for non-payment of allotment money of Rs. 3 per equity share and first and final call money of Rs. 4 per equity share. Out of these, 250 shares were reissued to Shyam for a total payment of Rs. 2,000.
Pass Journal entries for forfeiture and reissue.

Explanation

`{:("Working Note:"," Calculation of Gain (profit) on Reissue of shares:",,"Rs."),(," Total amount forfeited on 300 shares @ Rs. 3 per share",,900),(,.:."Amount forfeited on 250 shares reissued @ Rs. 3 per share",,bar(750)),(," Less: Discount allowed on reissue of forfeited shares",,500),(," Gain on reissue of forfeited shares transferred to Capital Reserve",,ulbar(ul(250))),(,,,):}`