Vaibhav Ltd. issued 20,000 equity shares of Rs. 10 each at Rs. 250 payable as follows :
`{:(,"Rs."),("On Application","100 (including premium Rs. 60)"),("On Allotment","50 (including premium Rs. 30)"),("On First Call","70 (including premium Rs. 40)"),("On Second & Final Call","30 (including premium Rs. 20)"):}`
All amounts were received except first and second & final call on 750 shares held by Mr. Akash. His shares were forfeited and 2/3 rd of these shares were reissued to Mr. Dinesh at Rs. 200 per share. Pass entries for forfeiture and reissue.

Explanation

Transfer to Capital Reserve Rs. 30,000.