The issue of $1 par value common stock for $10 per share results in a $9 credit to the capital in excess of par account for each share issued.

Name: The issue of $1 par value common stock for $10 per share results in a $9 credit to the capital in excess of par account for each share issued.
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Quizplus · Accepted Answer

The capital in excess of par is calculated by subtracting the par value from the issue price. In this case, $10 - $1 = $9, which results in a credit to the capital in excess of par account of $9 per share issued.

The Issue of $1 Par Value Common Stock for $10