Mitchell Corporation received $11,500,000 for the issuance of its stock on May 14 The par value of the Mitchell Corporation stock was only $ 11,500 Was the excess amount of $ 11,488,500 a profit to Mitchell Corporation If not, what was it Suppose the par value of the Mitchell Corporation stock had ...

The 11488500 was paidin capital in excess of par common It was not a prof ...

Mitchell Corporation received $11,500,000 for the issuance of its stock on May 14. The par value of

Question:

Mitchell received $11,500,000 for the issuance of its stock on May 14. The of the Mitchell stock was only $ 11,500. Was the excess amount of $ 11,488,500 a profit to Mitchell If not, what was it?
Suppose the of the Mitchell stock had been $2 per share, $4 per share, or $7 per share. Would a change in the of the company's stock affect Mitchell Corporation's total paid-in capital? Give the reason for your answer.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...