Thank you for your response. Please see the answer to your questions in blue highlighted below…

What type of college did you do your processing through? A reputed University? -- Yes.

What reason did you put to answer why reinstating back to F-1? -- To purse master's degree MBA in Project Management to be more proficient in my career.  

You are supposed to submit the declaration of finances document which shows you have enough capital to pay for school, did you show enough funds? -- Yes we did.

Did they mention any specific reason as to why the reinstatement case was denied? -- "F-1 status has been terminated for 2 years and reason is not beyond your control".