When the financial controller was providing details on the employee share schemes at Knappa, it was

identified that share options granted to the production staff on $1$ July $2022$ were not accounted for in the

year ended $30$ June $2023$ financial statements.

On $1$ July $2022,1,000$ share options were granted to each of Knappa's $30$ production employees, on the

condition that the employees remain with the company for the next two years and that the share price

increases from $$26\mathrm{.}50$ per share on $1$ July $2022$ to $$35$ per share on $30$ June $2024.$ If the share price

target at $30$ June $2024$ is achieved, the share options can be exercised at any time over the subsequent

$12$ months $($ie up to $30$ June $2025).$

The fair value of each share option at the grant date was $$5\mathrm{.}60.$

You have obtained the following information $($presented as a table in the photo$)$:

Question: For the year ended $30$ June $2024,$ prepare the journal entries to account for the above equity shared based transaction. Show all workings and support to relevant accounting standards. Ignore the impact of tax.