share capital

CA SWETA (Partner) (61 Points)

29 July 2010  

hi friends...

A private limited company as on 31/03 has passed the following journal entry in his book:

Share capital receivable    Dr

Share capital                        Cr

and has passed the board resolution on 28/02 that money should be received within 3 months

Is this entry justified as on 31/03 as per co. law?