IMC Moodle System My courses Dashboard > My courses > Top Master of Business Subjects > 2021 Term1 TACC605 > 19 April - 25 April > Major Quiz 1 Question 1 Not yet answered Marked out of 1.00 P Flag question XYZ Ltd's capital consists of 50,000 ordinary shares issued at $2 and paid to $1 per share. On 1 September, a first call of 50c was made on the ordinary shares. By 30 September, the call money received amounted to $22,500. 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 $2 for a payment of $1.5 per share. The appropriate cash amount from the reissue was received on 19 November. Costs of reissue amounted to $2,000. The company's 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 is: O a. $500 O b. $3,000 Oc. $5,000 A O d. $2,500