Ratan Ltd forfeited 3,000 shares of ₹ 10 each (issued at ₹ 2 premium) for non-payament of first call of ₹ 2 per share

Ratan Ltd forfeited 3,000 shares of ₹ 10 each (issued at ₹ 2 premium) for non-payament of first call of ₹ 2 per share. Final call of ₹ 3 per share was not yet made. Out of thse, 2,000 shares were re-issued at ₹ 10 per share as fully paid. Pass entries for forfeiture and reissue of shares.

[Ans.: Capital Reserve – ₹ 10,000.]