Question Description
Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.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 Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.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 Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.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 Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Balances of Ram, Hari Mohan sharing profits and losses in the ratio 2:3:2 stood as follows: Capital Accounts: Ram Rs. 10,00,000; Hari Rs. 15,00,000; Mohan Rs. 10,00,000; Joint Life Policy Rs. 3,50,000. Hari desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2. Joint Life Policy of the partners surrendered and cash obtained Rs. 3,50,000. What would be the treatment for JLP?a)Rs. 3,50,000 credited to partners capital account in new ratio.b)Rs. 3,50,000 credited to partners capital account in old ratio.c)Rs. 3,50,000 credited to partners capital account in capital ratio.d)Rs. 3,50,000 credited to JLP account.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.