ABC Ltd Has 21 000 Ordinary Shares on Issue at 1

ABC Ltd has 21 000 ordinary shares on issue at 1 January 2015 which is the beginning of its reporting period. On 30 June 2015, it issued a further 2000 ordinary shares for cash. On 1 November 2015, ABC Ltd repurchased 600 shares at fair value in a market transaction.
The weighted average number of shares for use in the earnings per share calculation is:

A) 21 000 shares
B) 21 700 shares
C) 21 900 shares
D) 22 400 shares

Correct Answer:

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