A company reissued 100 shares of ₹10 at ₹9 fully paid up. The amount in share Forfeiture Account for these shares was ₹300. How much amount would be transferred to Capital Reserve Account?

₹200

The correct answer is option 1- ₹200.

Journal entry on reissue:
Bank A/c                     Dr. 900 (100 x 9)
Share Forfeiture A/c   Dr. 100 (100 x 1)
       To Share Capital A/c           1,000 (100 x 10)
(Reissue of 100 forfeited shares at Rs. 9 per share as fully paid)

This shall leave a balance of Rs. 200 in share forfeited account which should be transferred to Capital Reserve Account by recording the following journal entry:
Share Forfeiture A/c Dr. 200
       To Capital Reserve        200
(Profit on reissue of forfeiture)

So, ₹200 is transferred to capital reserve.