Assume Dorper Co. wishes to issue shares at a price of $12 each. $6 is payable on allotment and $2 is payable on call.Jemima wishes to purchase 3,000 Dorper Co. shares. What is the total amount payable by Jemima at the application stage?(Enter numbers only without any symbols, e.g. 1234)
Question
Assume Dorper Co. wishes to issue shares at a price of 6 is payable on allotment and $2 is payable on call.Jemima wishes to purchase 3,000 Dorper Co. shares. What is the total amount payable by Jemima at the application stage?(Enter numbers only without any symbols, e.g. 1234)
Solution
The total amount payable by Jemima at the application stage is calculated as follows:
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Determine the price per share at the application stage. In this case, the price per share is $12.
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Determine the number of shares Jemima wishes to purchase. In this case, she wants to buy 3,000 shares.
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Multiply the price per share by the number of shares to find the total amount payable.
However, it's important to note that only a portion of the total share price is payable at the application stage. In this case, 2 is payable on call. This means that the remaining 12 total price - 2 on call) is payable at the application stage.
So, the calculation would be:
12,000
So, Jemima would need to pay $12,000 at the application stage.
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