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please help The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty identified the following costs in relation
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The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty identified the following costs in relation to the share issue: Professional fees of P40,000. Internal management time in managing the process of P30,000. These costs are deductible in arriving at the entity's income tax liability. The current rate of tax is 30%. In accordance with PAS32 Financial instruments: presentation, the increase in equity in the statement of financial position of Resty as a result of the transaction will be P360,000 P332,000 P311,000 P320,000Step by Step Solution
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