​​​​​​​Please solve with detailed explanations and steps.

Dear Student
Entry a) is correct


Shares applied by Raghav = 450000 / 300000 * 15000 = 22500
Amount received from Raghav = (22500 * 40) - (15000*10) = 750000
Shares re issued at = 9000*75 = 675000
Amount to be utilised from share forfeited account = 9000*25 = 225000
Amount to be transferred to Capital Reserve = (750000 /15000*9000) - 225000
Amount to be transferred to Capital Reserve = 225000

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