Benjy Plc Has 8 000 000 Ordinary Shares on Issue

question 61

Multiple Choice

Benjy Plc has 8 000 000 ordinary shares on issue at the beginning of the year,1 July 2015.These shares were issued at £1.00 each and have a current market value at the end of the period of £5.20.On 1 September 2015,Benjy Ltd bought back 1 000 000 ordinary shares originally issued at £1.50 for £4.00 each.On 1 February 2016,2 000 000 shares were issued at the current market value of these shares.On 1 March 2016,900 000 partly paid-up ordinary shares were issued at an issue price of £5.00.These shares were partly paid to £4.00.Shares are not granted proportionate rights to receive dividends.This right attaches only when the shares are fully paid.The shares,however,do provide a proportionate right to vote at annual general meetings.What is the weighted-average number of shares calculated in accordance with IAS 33?

• A)8 232 438
• B)8 083 333
• C)7 991 781
• D)8 803 333

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