Explain the surrender value of the life policies, Accounting Basics

+44 141 628 6080
[email protected]

Explain the surrender value of the life policies

A,B and C were sharing profit and losses in the ratio of 5:3:2. The firm had insured the partner's lives severally. The surrender value of the life policies appearing in the Balance Sheet as at 10th Nov.,2004 were: A- 40,000$ B- 32,000$ C-24,000$ The surrender values represents 40% of the sum assured in each case. A dies on this date. b and C decide to share future profits and losses in the ratio of 2:1.Give Neccessary journal entries.

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the surrender value of the life policies

Reference No:- TGS0696119

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : What is the purpose of the charity

A small mill town in Georgia has a clothing factory that employs about 35% of the working population. Many years ago a creative accountant came up with an idea.

Q : Estimate the mass of an apple

Consider the motion of an apple and the Earth as the apple falls to the ground. If the apple begins at the top of a tree of height 11 m, how much does the Earth move? Estimate the mass of an apple.

Q : Find plaintext message-encrypted using shift transformation

The message KYVMR CLVFW KYVBV PZJJV MVEKV VE was encrypted using a shift transformation C ≡ P + k (mod 26). Use frequencies of letters to determine the value of k. What is the plaintext message?

Q : Determine how many pounds of raw material are needed

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars.

Q : Explain the surrender value of the life policies

A,B and C were sharing profit and losses in the ratio of 5:3:2. The firm had insured the partner's lives severally. The surrender value of the life policies appearing in the Balance Sheet as at 10th.

Q : What are the consolidation entries needed

January 1, 2009, Vacker Co. acquired 70% of Carper Inc. by paying $650,000. This included a $20,000 control premium. Carper reported common stock on that date of $420,000 with retained earnings of $252,000.

Q : Find product cipher obtained by using transformation

Find the product cipher obtained by using the transformation C ≡ aP+ b (mod 26) followed by the transformation C ≡ cP+ d (mod 26), where (a, 26) = (c, 26) = 1.

Q : Calculate the total overhead allocated to job

Calculate the total overhead allocated to JOB 510, which has 405 parts, 10 setups, and 58 direct labor hours.

Q : Determine the peak current

A series RLC circuit consists of a 809 W resistor, a 0.176 H inductor, and a 55.5 mF capacitor. It is attached to a 120 V/60 Hz power line. What is the peak current in A, the phase angle, (in deg) and the average power loss (in W) of the circuit?

1923329

Questions
Asked

3,689

Active Tutors

1420469

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the surrender value of the life policies

Reference No:- TGS0696119

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the purpose of the charity

Q : Estimate the mass of an apple

Q : Find plaintext message-encrypted using shift transformation

Q : Determine how many pounds of raw material are needed

Q : Explain the surrender value of the life policies

Q : What are the consolidation entries needed

Q : Find product cipher obtained by using transformation

Q : Calculate the total overhead allocated to job

Q : Determine the peak current

What is meant by an incomplete abortion

Which sign indicates a child is a victim of bullying

Pregnant client about having a chorionic villus sampling

Discuss nursing diagnosis of deficient fluid volume

Defining characteristics of this diagnostic label

What is meant by an incomplete abortion

Discussion about fear of having contracted herpes

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the surrender value of the life policies

Reference No:- TGS0696119

Recent Questions Asked Accounting Basics

Q : What is the purpose of the charity

Q : Estimate the mass of an apple

Q : Find plaintext message-encrypted using shift transformation

Q : Determine how many pounds of raw material are needed

Q : Explain the surrender value of the life policies

Q : What are the consolidation entries needed

Q : Find product cipher obtained by using transformation

Q : Calculate the total overhead allocated to job

Q : Determine the peak current

Asked Questions