Read the hypothetical text and answer the following questions.S and P are two partners in a firm sharing profit and losses in the ratio of 3:2. At the time of distributing the net profit between the partners, interest on capital was credited @ 18% instead of 8% wrongly. Partners’ capitals are given on 1st April, 2018 as ₹ 5,00,000 and ₹ 3,00,000 respectively. Profit on 31st March, 2019 is ₹ 2,00,000.Q1. The excess interest on capital provided to S which is to be debited now is ……………… a) ₹ 40,000 b) ₹ 50,000 c) ₹ 90,000 d) ₹ 30,000 Q2. The excess interest on capital provided to P which is to be debited now is ……………… a) ₹ 24,000 b) ₹ 30,000 c) ₹ 54,000 d) ₹ 50,000 Q3. The aggregate excess profit generated to distribute further is ………………………. a) ₹ 1,20,000 b) ₹ 1,44,000 c) ₹ 80,000 d) ₹ 84,000 Q4. Whose account will be benefitted by this past adjustment? a) P b) S c) Both of these d)None of the above