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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
East India Hotels Ltd. was registered with an authorised capital of ₹25,00,000 divided into 2,50,000 Equity Shares of ₹10 each. It issued 1,50,000 Equity Shares to the public for subscription. The shares were subscribed, and calls were made and received. The first and final call of ₹3 was not made. Paresh, holder of 5,000 shares, paid the call money along with the allotment money. Prepare the Balance Sheet showing Share Capital.
BALANCE SHEET OF EAST INDIA HOTELS LTD. (Extract)
| Particulars | Note No. | ₹ |
|---|---|---|
| 1. Shareholders’ Funds: Share Capital | 1 | 10,50,000 |
| 2. Current Liabilities: Other Current Liabilities | 2 | 15,000 |
NOTES TO ACCOUNTS
| Particulars | ₹ |
|---|---|
| 1. Share Capital | |
| Authorised Share Capital: 2,50,000 Equity Shares of ₹10 each | 25,00,000 |
| Issued Share Capital: 1,50,000 Equity Shares of ₹10 each | 15,00,000 |
| Subscribed but not Fully Paid-up: 1,50,000 Equity Shares of ₹10 each (Called-up ₹7) | 10,50,000 |
| Total Share Capital | 10,50,000 |
| 2. Other Current Liabilities | |
| Calls in Advance (Paresh, 5,000 shares × ₹3) | 15,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.9 - Share Capital", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 1 - Share Capital.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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