On 1 January 2021, the Beginning of the Reporting Period

On 1 January 2021, the beginning of the reporting period, Jupiter Ltd has 50 000 ordinary shares on issue. On 30 June 2021, Jupiter Ltd issued a further 20 000 ordinary shares for cash. On 1 November 2021, Jupiter Ltd repurchased 2 400 shares at fair value in a market transaction. The weighted average number of shares for use in the earnings per share calculation is:

A) 60 000 shares.
B) 70 000 shares.
C) 60 400 shares.
D) 72 400 shares.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free