A credit to Additional Paid-in Capital for $522000, we have to deduct par value cost i.e. $2 from per share cost i.e. $20, now multiply $18 with number of shares i.e. 29000.
More about Additional Paid-in Capital:
The excess amount that a company receives from investors over and above the par value of shares (equity or preferred) at the time of an IPO is referred to as additional paid-in capital, also known as capital surplus.
It can be thought of as the profit that a company makes when it issues the stock for the first time in the open market. The bare minimum required to purchase a share of stock is known as the par value. It implies that this base sum must be paid in order to acquire a share.
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