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:

Question

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The weighted average number of shares is calculated by taking the weighted average of the number of shares outstanding during the reporting period. The number of shares outstanding at the beginning of the reporting period is 21,000. The number of shares issued on 30 June 2015 is 2,000, which were outstanding for half of the reporting period (3 months). The number of shares repurchased on 1 November 2015 is 600, which were outstanding for 2 months. Therefore, the weighted average number of shares is (21,000 x 12) + (2,000 x 6) - (600 x 2) / 12 = 21,900.

ABC Ltd Has 21 000 Ordinary Shares on Issue at 1