Quiz 6 Fall 2019 - MGCR-211-001/002/003 edugen.wileyplus.com WileyPLUS Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso, Trenholm, Irvine, and Burnley Help | System Announcements ASSIGNMENT RESOURCES Quiz 6 F19 Question 1 Question 2 Question 3 Question 4 Question 5 Question 6 Review Score Review Results by Study Objective Wiley PLUS D PRINTER VERSION 4 BACK NEXT Question 4 CATO Corporation has an unlimited number of common shares authorized and 102,000 common shares issued. At December 31, 2017, CATO had a balance in the Common Shares account of $295,800. On January 1, 2018 CATO reacquired and retired 9,000 common shares at a price of $2.70 cash per share. Prepare the journal entry for the reacquisition of shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry Required" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the joumal entry for the reacquisition of shares assuming instead a price of $3.15 was paid and a balance of $1,300 in the Contributed Surplus account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry Required" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Jan. 1 Debit Credit Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER