Present the share capital in the Balance Sheet of Khyati Ltd. as per Schedule III, Part I of Companies Act, 2013 and also prepare 'Notes to Accounts' for the same.

Understand the Problem

The question is asking to present the share capital in the Balance Sheet of Khyati Ltd. as per Schedule III, Part I of Companies Act, 2013 and also prepare 'Notes to Accounts' for the same.

Answer

The share capital is presented in the Balance Sheet with the help of notes to accounts. The total share capital is \u20b913,48,000.

The share capital in the Balance Sheet of Khyati Ltd is \u20b913,48,000. Notes to Accounts include Authorised Capital of 2,00,000 Equity Shares of \u20b910 each (\u20b920,00,000), Issued Capital of 1,80,000 Shares of \u20b910 each (\u20b918,00,000), and Subscribed but not fully paid up capital: 1,64,000 Shares of \u20b98 each (\u20b913,12,000) with addition of forfeited shares of \u20b936,000 summing up to the total of \u20b913,48,000.

More Information

The presentation adheres to Schedule III, Part I of the Companies Act, 2013, which outlines the required format for financial statements. The 'Notes to Accounts' provide a detailed breakdown of the share capital, enhancing transparency.

Tips

Students often struggle with the distinction between authorized, issued, and subscribed capital. Forfeiture of shares needs careful accounting to avoid errors.

Sources

On 1st April 2023, Khyati Ltd. was formed with an authorised capital - accountsaptitude.com
On 1st April 2023, Khyati Ltd. was formed with an authorised capital ... - shaalaa.com
[PDF] Schedule III - Companies Act Integrated Ready Reckoner - ca2013.com

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