Sir in this Q its written that policy surrendered to give 7550. This is method 2? In JLP a/c after writing By bank I’ll debit 7550 to capital account or revaluation account. In the answer its been dr to revaluation account. But the amount should be distributed among the partners.
Aur sir agar yeh M-2 hai toh by chance agar B/S mein JLP-5000 hota aur fir bolte ki retirement ke samay SV is 7550 toh fir kya karte.
Please refer class solution of crash course…icai solution is not correct