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Hi, need help can anyone help me with this question ?

Final 380 views 1 replies

ali

Student CA CPT

130 Points Joined March 2014

i have a doubt about joint life policy and i have attached images of that question.

my doubt is first wats the difference between the point A and point B of illustration 35.

and in point A y are v deducting 1400 and 700 from 18000 and distributing only 15900 to all partners??

and from point B y r v deducting 1800 from 18000 and distributing 16200 among all partners???

pls download the attachment for the question :) thanks

Attached File : 1247803 1299662 question jlp.rar downloaded: 149 times

Replies (1)

Ans. In First Condition (A), there is given opening balance on 1st Jan Rs.1400 and Rs. 700 paid on due date of annual premium, then B died on 1st Feb and total balance of LIC Rs.2,100/- already paid, Total Amount Received From Insurance Company Rs. 18,000/- so, Balance Amt. transfered to all partners capital.

In Second Condition (B), there is balance of LIC on the death of Rs. 1800, so balance amt rs. 16,200 transfered to capital account of each partner.