Grand Hotels Ltd. had authorised capital of ₹ 50,00,000 divided into 50,000 Equity Shares of ₹ 100 each. It issued 10,000 Equity Shares to public for subscription on the following terms

Grand Hotels Ltd. had authorised capital of ₹ 50,00,000 divided into 50,000 Equity Shares of ₹ 100 each. It issued 10,000 Equity Shares to public for subscription on the following terms:

On Application ₹ 40 per share

On Allotment ₹ 30 per share

Balance on First and Final Call.

Shares were fully subscribed and amounts called were duly received. First and Final call was not yet made.

Prepare Balance Sheet of the company showing Share Capital.

[Ans. Subscribed Capital ₹ 7,00,000.]