CA CPT June 2015 Question Paper Fundamentals of Accounting for online practice

A, B &C are partners in a firm B retires from the firm. Old profit sharing ratio is 2:2:1 after retirement .They had taken a joint life policy of Rs. 2,00,000 with the surrender value of Rs. 40,000. What will bethe amount to be credited to the partners capital accounts on receiving the JLP amount, if J.L.P. a/c ismaintained at surrender value?