Q\#1 Ansar, Azam and Azeem are partners having capitals of Rs.60,000; Rs.50,000 and Rs.50,000 respectively. They had agreed to the following terms: - Azam and Azeem shall be entitled to a monthly salary of Rs.1,200 and Rs.1,500 respectively. - Ansar shall be allowed commission Rs.2,500 per year. - The remaining profit or loss shall be divided among the partners in the ration of their beginning capitals. REQUIRED 1) Prepare table showing the distribution of profit/loss among the partners as per above terms under each of the following assumptions:- a) If the firm earns net income of Rs.60,000 during the year. b) In the firm sustains net loss of Rs.20,000 during the year. 2) Give the necessary entries in the General Journal under each of the above assumptions separately