Capital Reserve Questions

[Context based on Mona Ltd.] Out of the forfeited shares, $150$ shares were reissued at $\text{Rs. } 8$ per share fully paid up, including the whole of Mr. Sharma's shares ($100$ shares). The remaining $50$ shares were from Mr. Verma's forfeited shares (who held $200$ shares and failed to pay call money).Calculate the amount transferred to the Capital Reserve.

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:

Which statements are correct about capital reserve?(A) It is necessary to create capital reserves out of capital profits, if any.
(B) It cannot be used to issue bonus shares.
(C) It can be used to write off capital losses or to issue bonus shares any time during the lifetime of the company.
(D) It is not shown on the company balance sheet.Choose the correct answer from the options given below:

The net profit realized from the reissue of forfeited shares is transferred to which of the following accounts?