QUESTION 11 On January 1, 20X5, Aria Inc. issued bonds for $960,000. The bonds include 20,000 warrants giving the shareholder the right to purchase one common share for $14. The value of the bonds without the warrants attached would be $880,000. On September 26, 20X6, a total of 8,000 warrants were exercised. The fair market value of the warrants at this date was $5. What amount should be credited to common shares on September 26, 20X6? O a. $40,000 Ob.$112,000 OC$144,000 Od. $32,000 QUESTION 12 On January 1, 20x5, Tiggly Inc. issued a $4,000,000, four-year, 3% convertible bond. Interest is paid semi-annually on June 30 and December 31. The market rate for similar non-convertible bonds when issued was 4%. Each $1,000 bond can be converted into 50 common shares. The total consideration received for the bonds was $4,150,000. What amount should be recorded to the reserves/contributed surplus account when recording the issuance of the bonds? O a $226,155 b. $296,510 OC$419,310 Od. $146,510