On 15 January 2020, the equity section of Kratos Ltd?s balance sheet included the following: Share Capital ? Ordinary (100,000 fully paid shares) $500,000. Options (400,000 fully paid options) $80,000. Each option, if exercised, entitled the holder to acquire one ordinary share for $4, payable in full upon exercise of the option. By 1 February 2020, the exercise date of the options, 10% of the options were exercised. The remaining options duly lapsed.Which of the following would be one of the journal entries used to record the options related transactions? Dr Options 80 000 Cr Share Capital 80 000 Dr Cash 1 600 000 Cr Share Capital 1 600 000 Dr Options 80 000 Cr Lapsed Options Reserve 80 000 Dr Cash 160 000 Cr Share Capital 160 000
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