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On June 8, Cinrich Ltd. was incorporated and issued 32,400 common shares for $324,000. On...

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On June 8, Cinrich Ltd. was incorporated and issued 32,400 common shares for $324,000. On August 19, an additional 8, 100 shares were issued for $97.200.On November 2, the company paid $31.104 to repurchase 3,240 common shares and on December 7 it paid $56,160 to repurchase 4,320 common shares. (a) Your answer has been saved. See score details after the due date. Calculate the average cost of the common shares on June 8, August 19. November 2, and December 7. (Round answers to 2 decimal places, eg. 15.25.) Average Cost June 8 $ 10 Aug. 19 $ 104 Nov. 2 s 104 Dec. 7 $ 104 e Textbook and Media List of Accounts Question 1 of 4 > ../1 (b) Prepare the journal entries to record the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round average cost to 2 decimal places, eg. 15.25.) Account Titles and Explanation Cash Date Debit Credit June 8 324000 32400 Common Shares 97200 Aug 19 Cash 9720 Common Shares Nov. 2 v tre Dec. 7 Textbooland Media

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