Penitent Plc Acquired a Parcel of 10 000 Call Options

Penitent Plc acquired a parcel of 10 000 call options in Remorse Company Plc on 1 May 2014.The price of the options was €0.50 each and they may be exercised any time over the next 3 years.The exercise price is €11.On Penitent Plc's balance date - 30 June 2014 - the company is still holding the options.The market price of the options at that time was €1.20 each and the price of Remorse Company's shares had risen to €19.What are the entries required to record the purchase of the options and the adjusting entry to mark the options to market in Penitent's books?

A) $\begin{array}{l}1 \text { May } 2014\\\begin{array}{|l|l|r|r|}\hline \mathrm{Dr} & \text { Investment in share options } & 110000 & \\\hline \mathrm{Cr} & \text { Cash } & & 110000 \\\hline & & & \\\hline 30 \text { June } 2014 & & \\\hline \mathrm{Dr} & \text { Investment in share options } & 80000 \\\hline \mathrm{Cr} & \text { Profit on share options }&& 80000\\\hline \end{array}\end{array}$
B) $$\begin{array}{l}1 \text { May } 2014\\\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Investment in share options } & 5000 & \\\hline \mathrm { Cr } & \text { Cash } & & 5000 \\\hline & & & \\\hline 30 \text { June } 2014 & & \\\hline \mathrm { Dr } & \text { Investment in share options } & 7000& \\\hline \mathrm { Cr } & \text { Profit on share options } & &7000 \\\hline\end{array}\end{array}$$
C) $$\begin{array}{l}1 \text { May } 2014\\\begin{array} { | c | l | c | c | } \hline \text { Dr } & \text { Accounts payable-Remorse Ltd } & 5000 & \\\hline \mathrm { Cr } & \text { Share options } & & 5000 \\\hline\\\hline 30 \text { June } 2014 & & \\\hline \mathrm { Dr } & \text { Cash } & 7000 & \\\hline \mathrm { Cr } & \text { Gain on share options } & &7000 \\\hline\end{array}\end{array}$$
D) $$\begin{array}{l}1 \text { May } 2014\\\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Investment in share options } & 5000 & \\\hline \mathrm { Cr } & \text { Cash } & & 5000 \\\hline & & & \\\hline 30 \text { June } 2014 & & \\\hline \mathrm { Dr } & \text { Investment in share options } & 80000 & \\\hline \mathrm { Cr } & \text { Profit on share options } & & 80000 \\\hline\end{array}\end{array}$$