200 shares of ₹100 each issued at a premium of ₹10 were forfeited for the non-payment of allotment money of ₹60 (including premium) per share. The first and final call of ₹20 per share on these shares were not made. The forfeited shares were reissued at ₹70 per share as fully paid-up. Capital reserve created after reissue will be.........

Zero

The correct answer is option 3- Zero. 

• Face Value per share = ₹100
• Premium = ₹10
• Total Amount to be received against each share including premium = 110
• Allotment money (including premium) = ₹60
• Final call not made = ₹20
• Thus, amount received on application =110 - 60 - 20 = 30
• Amount received before forfeiture =Rs 30 per share * 200 shares = Rs 6,000
• Thus, amount to be credited to share forfeiture account = Rs 6,000
• Now, shares are reissued at ₹70, so: Discount on reissue per share = ₹100 − ₹70 = ₹30
• Total discount on reissue = 30 * 200 shares = 6,000
• This discount of Rs 6,000 on reissue needs to be adjusted against the Share Forfeiture account. 
• Capital reserve = Share Forfeiture account- Discount on Resissue i.e 6000- 6000 = 0

Journal entry on forfeiture of shares is-
Share Capital A/c          Dr.       16,000 (200 x 80)
Securities premium A/c Dr.       2,000(200 x 10)
          To Shares Forfeiture A/c                  6,000 (200 x 30)
          To Share Allotment A/c                   12,000 (200 x 60) 

Journal entry on reissue of shares is-
Bank A/c   Dr.               14,000 (200 x 70)
Share Forfeiture A/c      6,000 (200 x 30)
      To Share Capital A/c           20,000 (200 x 100)
(Reissue of 200 shares)

So, zero will be the answer as no amount is transferred to capital reserve.