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Bates Ltd Has 6,000,000 Ordinary Shares on Issue at the Beginning

question 13

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Bates Ltd has 6,000,000 ordinary shares on issue at the beginning of the year,1 July 2003.These shares were issued at $4.00 each and have a current market value of $6.25.On 1 February 2004,Bates Ltd bought back 300,000 ordinary shares originally issued at $4.50 for $5.60 each.On 1 May 2004,1,000,000 fully paid-up shares were issued at the current market value.What is the weighted average number of shares calculated in accordance with AASB 1027?


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