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Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer?.

Solutions for Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Balances of M/s. Ram, Rahul and Rohit sharing profits and losses in proportion to their capitals, stood as Ram Rs. 3,00,000; Rahul Rs. 2,00,000 and Rohit Rs. 1,00,000. Ram desired to retire form the firm and the remaining partners decided to carry on, Joint life policy of the partners surrendered and cash obtained Rs. 60,000. What will be the treatment for JLP?a)Rs. 60,000 credited to Revaluation Accountb)Rs. 60,000 credited to Joint Life Policy Accountc)Rs. 30,000 debited to Ram’s Capital Accountd)Either ‘a’ or ‘b’Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.