FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

78. Mr. X, a resident, is due to receive * 4.50 lakhs on 31.3.2021, towards maturity proceeds of LIC policy taken on 1.4.2018, for which

image text in transcribed

78. Mr. X, a resident, is due to receive * 4.50 lakhs on 31.3.2021, towards maturity proceeds of LIC policy taken on 1.4.2018, for which the sum assured is * 4 lakhs and the annual premium is * 1,25,000. Mr. Z, a resident, is due to receive * 95,000 on 1.10.2020 towards maturity proceeds of LIC policy taken on 1.10.2012 for which the sum assured is * 90,000 and the annual premium is 10,000. 78. Mr. X, a resident, is due to receive * 4.50 lakhs on 31.3.2021, towards maturity proceeds of LIC policy taken on 1.4.2018, for which the sum assured is * 4 lakhs and the annual premium is * 1,25,000. Mr. Z, a resident, is due to receive * 95,000 on 1.10.2020 towards maturity proceeds of LIC policy taken on 1.10.2012 for which the sum assured is * 90,000 and the annual premium is 10,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Financial Accounting

Understanding Financial Accounting

Authors: Christopher D. Burnley

3rd Canadian Edition

1119715474, 9781119715474

More Books

Students also viewed these Accounting questions

Question

★★★★★
Gomez Corporation uses straight-line depreciation for financial reporting purposes but an accelerated method for tax purposes. Is it acceptable to use different methods for the two purposes? What is...

Answered: 1 week ago

Question

★★★★★
4 [40 marks] Biller Industries plc is a global haulage equipment and scaffolding manufacturer. The company has never borrowed before but feels that in order to maximize growth and increase value, a...

Answered: 1 week ago

Question

★★★★★
Briefly discuss Aristotles approach to dreaming.

Answered: 1 week ago

Question

★★★★★
The auditor for ABC Wholesaling Company has just begun to perform analytical procedures as part of planning the audit for the coming year.ABC Wholesaling is in a competitive industry, selling...

Answered: 1 week ago

Question

★★★★★
Cul de las siguientes cuentas probablemente haya que ajustar al finalizar el periodo? Multiple Choice Dividendos Seguro Prepagado ("Prepaid insurance) Acciones comunes Terreno Land HD Cul de las...

Answered: 1 week ago

Question

★★★★★
What are the six different opacity sources in stellar atmospheres?

Answered: 1 week ago

Question

★★★★★
Question 15: You are required to read through the case study and complete the blank parts of the behavioural management plan. Case Study: Alex is 4 years old. He has been at the centre for a few...

Answered: 1 week ago

Question

★★★★★
Ted purchases a car costing $40,616. He makes a down payment of $4,000 and finances the rest of the cost with a 10-year loan. The loan interest rate is j12 = 3.6% and the monthly loan payments are...

Answered: 1 week ago

Question

★★★★★
George Ltd manufactures and sells two different types of coils used in electric motors. In September, Jessica Martin, the management accountant, compiled the following data for the upcoming annual...

Answered: 1 week ago

Question

★★★★★
1 of 6 b) Find the average shear stress (Taver) in the bolts. Taver = ksi (Round to two decimal places.)

Answered: 1 week ago

Question

★★★★★
You just started a new position at Visionless Company and you are surprised that the organization does not have either a mission or a vision statement. Explain to the management four reasons why it...

Answered: 1 week ago

Question

★★★★★
Is your management system defined?

Answered: 1 week ago

Question

★★★★★
Do you have a comprehensive communication plan for your strategy?

Answered: 1 week ago

Question

★★★★★
Do you have sufficiently ambitious milestones?

Answered: 1 week ago

Previous Question Next Question