Rashidi (100 shares): paid Rs.480 (application for 120 x 4); amount available towards face value of his 100 shares = Rs.480. Per-share forfeited amount = Rs.4.80. On reissue at Rs.8, discount = Rs.2 per share. Transfer to Capital Reserve = (4.80 - 2) x 100 = Rs.280.
Shantanu (50 of 200 reissued): paid app + allotment face value = Rs.6 per share. Reissue discount = Rs.2. Transfer per share = Rs.4; for 50 shares = Rs.200.
Total Capital Reserve = 280 + 200 = Rs.480.