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  3. a companys capital consists of 109688 ordinary sha

A companys capital consists of 109688 ordinary shares issued at $2 and paid to $1...

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Accounting

A companys capital consists of 109688 ordinary shares issued at $2 and paid to $1 per share.
On 1 September, a first call of $0.44 was made on the ordinary shares. By 30 September, 88% of the first call was received. No further payments were received, and on 31 October, the shares on which calls were outstanding were forfeited. On 15 November, the forfeited shares were reissued as paid to $1.50 for a payment of $1 per share. The appropriate cash amount from the reissue was received on 19 November. Costs of reissue amounted to $2470. The companys constitution provided for any surplus on resale, after satisfaction of unpaid calls, accrued interest and costs, to be returned to the shareholders whose shares were forfeited.
The amount of the surplus payable to the shareholders whose shares were forfeited to 2 decimal places is:

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