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A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer?.

Solutions for A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.

Here you can find the meaning of A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.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 takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.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 takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs. 2,50,000 with the surrender value Rs. 50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at surrender along with the reserve?a)Rs. 50,000 credited to all the partners in old ratiob)Rs. 2,50,000 credited to all the partners in old ratioc)Rs. 2,00,000 credited to all the partners in old ratiod)Distribute JLP Reserve Account in old profit sharing ratio.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice Commerce tests.