Answer:
$100,000
Explanation:
The common stock account would increase by the total value of the stated value of the shares issued and the difference between the issue price and stated value would increase the capital in excess of the par account
Increase in common stock account=10,000*$10
Increase in common stock account=$100,000
increase in paid-in capital in excess of par=($70-$10)*10,000
increase in paid-in capital in excess of par=$60*10,000
increase in paid-in capital in excess of par=$600,000
