400 shares of ₹50 each issued at par were forfeited for non-payment of the final call of ₹10 per share. These shares were reissued at ₹45 per share as fully paid-up. The amount transferred to capital reserve:

₹14,000

The correct answer is option 2- ₹14,000

Journal entry on forfeiture-
Share Capital A/c Dr.    ₹20,000 (Calledup amount 400 x 50)
       To Share Final Call A/c     ₹4,000 (Not received 400 x 10)
       To Share Forfeiture A/c   ₹16,000 (400 X 40 Received amount)
(Forfeiture of 400 shares)

Journal entry on reissue-
Bank A/c Dr.                  ₹18,000 (400 x 45)
Share Forfeiture A/c Dr.  ₹2,000 (400 x 5)
       To Share Capital A/c            ₹20,000 (400 x 50)
(Reissue of 400 forfeited shares)

Amount used in reissue = 2,000
Amount available in share forfeiture = 16,000
Amount transferred to capital reserve = 16,000 - 2,000
                                                       = 14,000