If a company issues 10,000 shares of $1 par common stock for $8.50 per share, what is

Question:

If a company issues 10,000 shares of $1 par common stock for $8.50 per share, what is the effect on total paid-in capital? What is the effect on additional paid-in capital (also known as paid-in capital in excess of par)?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...