On 1st September 2020, twenty students of Modern College started their Partnership Firm in the name of “Be Safe” for selling sanitisers on digital mode. Since they were good friends of each other, they were not having any explicit agreement in place. All of them have agreed to invest ₹15,000/- each as capital. The books were closed on 31st March 2021, on which date the following information was provided by the firm:PARTICULARSAMOUNT (₹)Sale of Sanitisers1,20,000Cost of goods sold50,000Total Remuneration to partners2,000 per monthRent to a partner1,000 per monthManager’s Commission5,000Closing Stock as on March 31,20219,0006% Fixed Deposit (made on 31.3.2021)20,0001. Calculate the amount of profits to be transferred to Profit and Loss Appropriation Account. - (A) Profit ₹58,000 (B) Profit ₹44,000 (C) Profit ₹59,200 (D) Profit ₹58,7002. On 31st March 2021, Remuneration to Partners will be provided to the partners of “Be Safe” but only out of: (A) Profits for the accounting year(B) Reserves(C) Accumulated Profits(D) Goodwill 3. On 01st December 2020 one of the partners of the firm introduced additional capital of ₹30,000 and also advanced a loan of ₹40,000 to the firm. Calculate the amount of interest that Partner will receive for the current accounting period- (A) ₹4,200(B) ₹1,400(C) ₹ 1575(D) ₹ 800