Read the hypothetical text and answer the following questions . Sonu and Monu are partners sharing profits and losses in the ratio of 2:1. Their capital Accounts as at 1st April, 2015 were ₹ 10,00,000 and ₹ 8,00,000 respectively. The partners are allowed interest on capital @ 5% p.a. Drawings of the partners during the year ended 31st March, 2016 were ₹ 1,44,000 and ₹ 1,00,000 respectively. Monu is entitled to get a salary of ₹ 10,000 p.m. Profit for the year before allowing interest on capital and salary was ₹ 16,00,000. 10% of the net profit is to be transferred to General Reserve.1. Find the amount which is to be transferred to General Reserve Account? a) ₹ 80,000 b) ₹ 1,20,000 c) ₹ 1,60,000 d) ₹ 2,00,0002. What is the distributable amount of profit which is to be credited to Partners’ Capital Accounts? a) ₹ 16,00,000 b) ₹ 14,40,000 c) ₹ 12,30,000 d) ₹ 10,00,0003. Find the closing capital of Sonu? a) ₹ 12,70,000 b) ₹ 17,26,000 c) ₹ 16,00,000 d) ₹ 10,00,0004. What is the share of Monu’s profit to be credited to his Capital Account? a) ₹ 14,40,000 b) ₹ 12,30,000 c) ₹ 4,10,000 d) ₹ 8,20,000