Question

Klen Ltd. was registered with an authorized capital of ₹10,00,000 divided into Equity Shares of no. Out of these, 8,000 shares were issued to vendors as fully paid as purchase consideration for a business acquired. The company offered 20,000 shares for public subscription and called up ₹8 per share and received the entire called up amount.
You are required to prepare the Balance Sheet of the company as per Schedule III of Companies Act, 2013, showing Share Capital balance and also prepare Notes to Accounts.

Answer 1

Balance Sheet (Extract) of Klen Ltd. as at 31st March, 2024
Particulars	Note No.	Amount (₹)
I. Equity and Liabilities
Shareholders' Funds:
(a) Share Capital	1	2,40,000

Note 1: Share Capital

Particulars	Amount (₹)
Authorised Capital:
1,00,000 Equity Shares of ₹10 each	10,00,000
Issued Capital:
28,000 Equity Shares of ₹10 each	2,80,000
Subscribed and Fully Paid Capital:
8,000 Equity Shares of ₹10 each fully paid (issued to vendors)	80,000
Subscribed but not Fully Paid Capital:
20,000 Equity Shares of ₹10 each, ₹8 called and fully paid	1,60,000
Total Share Capital	2,40,000