What will balance of courier six ltd share capital account

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Problem 1: On 22 October 2020, the equity section of Courier Six Ltd balance sheet included the following: Share Capital Ordinary (50,000 fully paid shares) $100,000. Options (200,000 fully paid options) $20,000. Each option, if exercised, entitled the holder to acquire one ordinary share for $3, payable in full upon exercise of the option. By 1 November 2020, the exercise date of the options, 60% of the options were exercised. The remaining options duly lapsed. Once all of the options related transactions have been recorded , what will the balance of Courier Six Ltd share capital account be?

Option 1: $352,000
Option 2: $360,000
Option 3: $472,000
Option 4: $480,000

Reference no: EM132982412

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