74. On 31st March, 2014, the balances in the Capital Accounts of Saroj, Mahinder and Umar after making adjustments for profits and drawings, etc., were ₹80,000, ₹60,000 and ₹40,000 respectively. Subsequently it was discovered that the interest on capital and drawings has been omitted.

(a) The profit for the year ended 31st March, 2014 was ₹80,000.

(b) During the year Saroj and Mahinder each withdrew a sum of ₹24,000 in equal instalments in the end of each month and Umar withdrew ₹36,000.

(c) The interest on drawings was to be charged @ 5% p.a. and interest on capital was to be allowed @ 10% p.a.

(d) The profit sharing ratio among partners was 4:3:1. 

Showing your workings clearly, pass the necessary rectifying entry.

(Delhi 2015 C)