When no-par stock is issued, the entire proceeds are credited to Capital Stock and this amount is viewed as legal capital not subject to withdrawal.

true or false?

The additional paid-in capital account represents profit to the corporation and, as such, it is credited to Retained Earnings.

true or false

When par value capital stock is issued, capital stock is credited with the par value of the shares issued, regardless of whether the issuance price is equal to par, more than par, or less than par.

true or false