On 1st April, 2021, Vintage Ltd. was registered with a capital of ₹ 40,00,000 divided into equity shares of ₹ 100 each. It offered 12,000 shares to the public which were all subscribed for and allotted and were fully paid. During the year 2022-23, the company:
• Issued 5,500 equity shares to the public on which, till the date of the Balance Sheet as at 31st March, 2023, ₹ 70 had been called. • Issued equity shares of ₹ 100 each at a premium of ₹ 25 to Style Ltd. from whom it purchased land at a purchase consideration of ₹ 4,50,000. • Paid underwriting commission of ₹ 40,000 to the underwriters. • Suffered a net loss of ₹ 4,00,000. As per Schedule III of the Companies Act, 2013, you are required to:
(i) Show the Reserves and Surplus in the Notes to Accounts. (ii) Mention the heading and sub-heading under which Land is shown in the Balance Sheet of the company. (iii) Give the amount of Share Capital in the Balance Sheet of the company prepared as at 31st March, 2023. (Ignore Notes to Accounts)
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