Read the hypothetical text and answer the following questions.X and Y started business on 1St April, 2020 with capitals of ₹ 5,00,000 each. As per the partnership Deed, both X and Y are to get monthly salary of ₹ 10,000 each and interest on capital is ₹ 50,000 each. Interest on drawings are as followsX : ₹ 3,000 and Y: ₹ 5,000.During the year, the firm incurred a loss of ₹ 2,00,000.1. What is the amount to be transferred to Profit and Loss Appropriation Account? a) ₹ 5,00,000 b) ₹ 2,00,000 c) ₹ 3,00,000 d) ₹ 1,50,000 2. What is the total amount of salary to be credited to Partners’ capital account? a) ₹ 1,20,000 b) ₹ 2,40,000 c) ₹ 1,80,000 d) No salary will be given 3. What amount of loss is to be transferred to the capital account of the both partners? a) ₹ 1,92,000 b) ₹ 2,00,000 c) ₹ 1,96,000 d) ₹ 1,80,000 4. What is the share of loss of X? a) ₹ 1,00,000 b) ₹ 96,000 c) ₹ 98,000 d) ₹ 90,000