| Document and Entity Information - USD ($) | 3 Months Ended | |
| Aug. 31, 2015 | Nov. 30, 2014 | |
| Document and Entity Information: | ||
| Entity Registrant Name | Karnet Capital Corp. | |
| Document Type | 10-Q | |
| Document Period End Date | Aug. 31, 2015 | |
| Trading Symbol | krnt | |
| Amendment Flag | false | |
| Entity Central Index Key | 1,615,169 | |
| Current Fiscal Year End Date | --05-31 | |
| Entity Common Stock, Shares Outstanding | 8,100,000 | |
| Entity Public Float | $ 81,000 | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Current Reporting Status | No | |
| Entity Voluntary Filers | No | |
| Entity Well-known Seasoned Issuer | No | |
| Document Fiscal Year Focus | 2,016 | |
| Document Fiscal Period Focus | Q1 |
| Balance Sheets - USD ($) | Aug. 31, 2015 | May. 31, 2015 |
| Assets, Current | ||
| Cash and Cash Equivalents, at Carrying Value | $ 5,466 | $ 4,335 |
| Assets, Current | 5,466 | 4,335 |
| Assets, Noncurrent | ||
| Assets | 5,466 | 4,335 |
| Liabilities, Current | ||
| Accounts Payable, Current | 0 | 260 |
| Advances from director | 11,500 | 11,500 |
| Liabilities, Current | 11,500 | 11,760 |
| Liabilities, Noncurrent | ||
| Liabilities | 11,500 | 11,760 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ||
| Common Stock, Value, Issued | 8,100 | 6,000 |
| Additional Paid in Capital, Common Stock | 18,900 | 0 |
| Deficit accumulated during the development stage (Accumulated Deficit) | (33,034) | (13,425) |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (6,034) | $ (7,425) |
| Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ||
| Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
| Common Stock, Shares Issued | 8,100,000 | 6,000,000 |
| Common Stock, Shares Outstanding | 8,100,000 | 6,000,000 |
| Liabilities and Equity | $ 5,466 | $ 4,335 |
| Statement of Income - USD ($) | 3 Months Ended | |
| Aug. 31, 2015 | Aug. 31, 2014 | |
| Amortization of Deferred Charges | ||
| Selling, General and Administrative Expense | $ 19,609 | $ 5,529 |
| Operating Expenses | 19,609 | 5,529 |
| Operating Income (Loss) | (19,609) | (5,529) |
| Interest and Debt Expense | ||
| Net Income (Loss) | $ (19,609) | $ (5,529) |
| Statement of Cash Flows - USD ($) | 3 Months Ended | |
| Aug. 31, 2015 | Aug. 31, 2014 | |
| Net Cash Provided by (Used in) Operating Activities | ||
| Net Income (Loss) | $ (19,609) | $ (5,529) |
| Increase (Decrease) in Operating Liabilities | ||
| Increase (Decrease) in Accounts Payable | (260) | |
| Net Cash Provided by (Used in) Operating Activities | (19,869) | (5,529) |
| Net Cash Provided by (Used in) Financing Activities | ||
| Proceeds from director loan | 0 | 5,000 |
| Proceeds from Issuance of Common Stock | 21,000 | 0 |
| Net Cash Provided by (Used in) Financing Activities | 21,000 | 5,000 |
| Cash and Cash Equivalents, Period Increase (Decrease) | 1,131 | (529) |
| Cash and Cash Equivalents, at Carrying Value | 4,335 | 1,262 |
| Cash and Cash Equivalents, at Carrying Value | $ 5,466 | $ 734 |
| 1. Nature of Operations | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 1. Nature of Operations | 1. Nature of Operations KARNET CAPITAL CORP. was incorporated We have signed agreement, with TRANS-TRADE CAPITAL LLP, manufacturing company having a principal office in UK, London. According to the agreement, TRANS-TRADE CAPITAL LLP has agreed to manufacture and supply us with Food Waste Disposal Units. In addition our Company signed a Sales contract with distributor Kalynka 25, an established home appliance and electronics chain in Saint Petersburg. |
| 2. Going Concern | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 2. Going Concern | 2. GOING CONCERN The Company has generated limited revenues and incurred a loss since Inception (January 31, 2014) resulting in an accumulated deficit of $33,034 as of August 31, 2015 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Companys ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and, or, the private placement of common stock. Because of the Companys history of losses, its independent auditors, in the reports on the financial statements for the year ended May 31, 2015, expressed substantial doubt about the Companys ability to continue as a going concern. The accompanying unaudited financial statements for the three months period ended August 31, 2015 have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that could result from the outcome of this uncertainty. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of managements efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
| 3. Summary of Signifcant Accounting Policies | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 3. Summary of Signifcant Accounting Policies | 3. SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations, stockholders equity and cash flows of the Company for the three months period ended August 31, 2015. Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (GAAP accounting). The Company has adopted a May 31 fiscal year end. Cash and Cash E ui v lents T e C m a c nsi ers all i ly li i inves m e ts wit t e ori i a m ritie o thre m t les to s e q i a le t Fair Value of Financial Instruments The Companys financial instruments consist of cash and cash equivalents and amounts due to shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Inventories Inventories are stated at the lower of cost or market. Cost is principally determined using the first-in, first out ( FIFO Deposits Deposits are stated at fair value. The Company had $0 in deposits as of August 31, 2015($0 as of May 31, 2015) Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using both straight-line and declining balance methods over the estimated useful life of the assets (five to seven years). Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Companys net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Companys net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of August 31, 2015 (NIL as of August 31, 2014). Comprehensive Income The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. Recent Accounting Pronouncements Karnet Capital Corp. does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow. |
| 4. Loan From Director | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 4. Loan From Director | 4. LOAN FROM DIRECTOR August 31, 2015 May 31, 2015 Loan $ 11,500 $ 11,500 $ 11,500 $ 11,500 The loans are unsecured, non-interest bearing and due on demand. |
| 5. Common Stock | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 5. Common Stock | 5. COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On April 21, 2014, the Company issued 6,000,000 shares of common stock to a director for cash proceeds of $6,000 at $0.001 per share. On July 9, 2015, the Company issued 1,000,000 shares of common stock cash proceeds of $10,000 at $0.01 per share. On July 10, 2015, the Company issued 310,000 shares of common stock cash proceeds of $3,100 at $0.01 per share. On July 13, 2015, the Company issued 470,000 shares of common stock cash proceeds of $4,700 at $0.01 per share. On July 14, 2015, the Company issued 160,000 shares of common stock cash proceeds of $1,600 at $0.01 per share. On July 15, 2015, the Company issued 160,000 shares of common stock cash proceeds of $1,600 at $0.01 per share. There were 8,100,000 shares of common stock issued and outstanding as of August 31, 2015 (6,000,000 as of May 31, 2015) |
| 6. Commitments and Contingencies | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 6. Commitments and Contingencies | 6. COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
| 7. Income Taxes | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 7. Income Taxes | 7. INCOME TAXES As of August 31, 2015, the Company had net operating loss carry forwards of approximately $33,034 ($ 13,425 as of May 31, 2015) that may be available to reduce future years taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The provision for Federal income tax consists of the following: August 31, 2015 May 31, 2015 Federal income tax benefit attributable to: Current Operations $ 6,667 $ 4,526 Less: valuation allowance (6,667) (4,526) Net provision for Federal income taxes $ - $ - The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: August 31, 2015 May 31, 2015 Deferred tax asset attributable to: Net operating loss carryover $ 33,034 $ 13,313 Less: valuation allowance (33,034) (13,313) Net deferred tax asset $ - $ - Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $33,034 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years. |
| 8. Subsequent Events | 3 Months Ended |
| Aug. 31, 2015 | |
| Notes | |
| 8. Subsequent Events | 8. SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to August 31, 2015 to September 22, 2015, and has determined that it does not have any material subsequent events to disclose in these financial statements |
