[CBSE] Q. 9 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)

The solution to Question number 9 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board

East India Hotels Ltd. was registered with authorised capital of ₹ 25,00,000 divided into 2,50,000 Equity Shares of ₹ 10 each. It issued 1,50,000 Equity Shares to public for subscription. The shares were subscribed and calls were made and received. 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 Balance Sheet of the company showing Share Capital.

[Ans.: Subscribed But Not Fully Paid-up Capital – ₹ 10,50,000; Calls-in-Advance – ₹ 15,000.]

Solution:-

Notes:-

As Question only ask to show share capital in the Balance Sheet. Call in Advance of Presh (5,000 x 3 = ₹ 15,000) is not shown in the notes to accounts.

We show the Calls-In-Advance in the Equity and Liabilities part of the Balance Sheet under the head Current Liabilities and sub-head Other Current Liabilities