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A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. 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 A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. 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 A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. Can you explain this answer?.

Solutions for A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. 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 A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. Can you explain this answer?, a detailed solution for A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and firm received the joint life policy as Rs. 7,500 appearing in the balance sheet at R.s 10,000. JLP is credited and cash debited with Rs. 7,500, what will be the treatment for the balance in Joint Life Policy.a)Credited to partner’s current account in profit sharing ratiob)Debited to revaluation accountc)Debited to partner’s capital account in profit sharing ratiod)Either ‘b’ or ‘c’Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.