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9. please help answer choices for all boxes are in second pic. Use drop-down menu to answer the question. On Feb 14th 2020, NanaTuna Inc.
9. please help answer choices for all boxes are in second pic.
Use drop-down menu to answer the question. On Feb 14th 2020, NanaTuna Inc. issued 90,000 stock warrants for $ 225,000. Each warrant contains a right to purchase one share of NanaTuna's $10 par value common stock for $15 per share. On October 31st 2020, 36,000 rights were exercised. At the time of conversion, the market price of the common stock was $19 per share and the market value of the rights was $3.00 per right As a result of the warrant exercise and the issuance of the related common stock, what journal entry would NanaTuna post? debit: s debit: S credit: credit: Cash Common Stock Paid-in Capital in Excess of Par -- Common Stock Paid-in Capital in Excess of Par -- Stock Warrant Paid-in Capital -- Stock Warrant Gain on Stock Warrant Conversion Loss on Stock Warrant Conversion 540,000 90,000 360,000 270,000 225,000 405,000 135,000 315,000
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