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What is the WANOS

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As at 1 July 2017, League Ltd had 5 200 000 fully paid-up ordinary shares on issue. During the year the company:

  • bought back 1 700 000 fully paid ordinary shares on 1 November 2017 at prevailing market price
  • issued 1 300 000 partly paid ordinary shares on 1 April 2018 at an issue price of $2.00. The shares were partly paid to $1.25. The partly paid shares carry the right to participate in dividends in proportion to the amount paid as a fraction of the issue price.

Question (a) What is the WANOS on which basic earnings per share will be calculated for the year ending 30 June 2018? Show all workings.

Question (b) What situation would mean League Ltd is required to disclose basic EPS?

Reference no: EM132613841

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