Helping tags: Accounting...WILL UPVOTE, just please help me answer the questions. Thank you! Problem 13 - 5 GPP with Net LossJ, a partner of a general professional partnership, showed the following income andlosses:Net income from trading business - as sole proprietor.Share from the net loss of the partnershipP500,000200,000How much is the net taxable income of J?a P720,000b P450,000C P300,000d P250,000Problem 13 - 6 Co-partnership with Net LossM, a partner of a commercial partnership, showed the following income and losses:Net income from trading business - as sole proprietor.Share from the net loss of the partnershipP500,000200,000How much is the net taxable income of M?a P720,000b P450,000C P300,000d P250,000Problem 13 - 7 Co-partnershipIn 200x, Mitzi and Edgar reported a partnership net profit from trading amounting toP400,000. Other items of income not included in the net profit are interest incomeof P4,000, net final withholding tax, and dividend income from domestic corporationof P10,000. The income tax on the distributive share of Mitzi who share profit andloss equally with Edgar in the earnings of the partnership isa P14,700b P14,300C P14,076d P13,600 Problem 13 - 8 Co-partnershipA and B formed a trading partnership sharing profit and loss at 1:1. During thetaxable year, the gross profit of the partnership amounted to P400,000 andbusiness expenses incurred amounted to P160,000; cost sales of P200,000.1 The income tax of the partnership isa P135,000b P105,000C P72,000d P15,0002 How much is the distributable share of partner A, net of final tax?a P183,000b P102,000C P87,750d P75,600Problem 13 - 9 General Professional PartnershipJ, married, with an unemployed wife and one qualified dependent child, and R,single, are partners in J, R, & Co., a general professional partnership. They aresharing profit and losses as follows: J - 70% and R - 30%. For the calendar yearended 200x, the income and expenses of the partnership and the income andexpenses of the personal account of the partners are as follows:J. B. & Co. PersonalJ Personal RGross incomeP325,000P85,000P65,000Expenses:Allowable deductions175,00035,00015,000Charitable distribution15,0001,750620Drawings by J and R from the partnership during the year (39,000)24,00015,0001 The taxable net income of J, if he opted for itemized deduction isa P67,750b P71,250C P96,750d P146,2502 The taxable net income of R, if he opted for optimal standard deduction isa P112,500b P97,500C P77,500d P47,500

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Partnership refers to the contractual arrangement among the people or individuals who carry out the…

J, a partner of a general professional partnership, showed the following income and losses: Net income from trading business - as sole proprietor. Share from the net loss of the partnership P500,000 200,000 How much is the net taxable income of J? a P720.000