Balance of R,H&M sharing profits & losses in the ratio 2:3:2 stood as R - 10,000;...
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Balance of R,H&M sharing profits & losses in the ratio 2:3:2 stood as R - 10,000; H- 15,00,000; M - 10,00,000; Joint Life Policy 3,50,000 H desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2 Joint policy of the partners surrendered and cash obtained 3,50,000 What would be the treatment for JLP A/c? Balance of R,H&M sharing profits & losses in the ratio 2:3:2 stood as R - 10,000; H- 15,00,000; M - 10,00,000; Joint Life Policy 3,50,000 H desired to retire from the firm and the remaining partners decided to carry on with the future profit sharing ratio of 3:2 Joint policy of the partners surrendered and cash obtained 3,50,000 What would be the treatment for JLP A/c?
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A Joint Life Policy JLP is an insurance policy which is taken out by the partnership firm ... View the full answer
Related Book For
Money Banking and Financial Markets
ISBN: 978-0078021749
4th edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
Posted Date:
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