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please answer quick and give correct answer else diskike X Co. Ltd. has its share capital divided into equity shares of 10 each. On 1.4.20X1

please answer quick and give correct answer else diskike image text in transcribed

X Co. Ltd. has its share capital divided into equity shares of 10 each. On 1.4.20X1 it granted 20,000 employees' stock option at 50 per share when the market price was 120 per share. Fair value per option was 70. The options were to be exercised between 15th March, 20X2 and 31st March, 20X2. The employees exercised their options for 16,000 shares only and the remaining options lapsed. The company closes its books on 31st March every year. Show Journal entries (with narration) as would appear in the books of the company up to 31st March, 20X2

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