On 1st May, 2014, Directors of a Limited Company forfeited 200 shares of Rs. 20 each, Rs. 15 per share called-up, on which Rs. 10 per share has been paid by A, the amount of the first call of Rs. 5 per share being unpaid. Ten days later, the Directors reissued the forfeited shares to B credited as Rs. 15 per share paid up, for a payment of Rs. 10 per share.
Give Journal entries in the company's books to record the forfeited shares and their reissue.

Answer

Capital Reserve-Rs. 1,000.