Use the following information to answer the question below. The following transactions involving Cactus Wren Corporation occurred during the year:
Apr. 1

\quad

Purchased 2,000 shares of its own preferred stock for $20, the current market price. This is the first transaction involving its own stock engaged in by the company.
May 3

\quad

Sold 400 of the shares purchased on April 1 for $25 per share.
June 5

\quad

Retired 600 of the shares purchased on April 1. The original issue price was $10. The par value of the stock is $5.
-The entry to record the May 3 transaction is:
A)
$Use the following information to answer the question below. The following transactions involving Cactus Wren Corporation occurred during the year: Apr. 1 \quad Purchased 2,000 shares of its own preferred stock for $20, the current market price. This is the first transaction involving its own stock engaged in by the company. May 3 \quad Sold 400 of the shares purchased on April 1 for $25 per share. June 5 \quad Retired 600 of the shares purchased on April 1. The original issue price was $10. The par value of the stock is $5. -The entry to record the May 3 transaction is: A) B) C) D)$
B)
$Use the following information to answer the question below. The following transactions involving Cactus Wren Corporation occurred during the year: Apr. 1 \quad Purchased 2,000 shares of its own preferred stock for $20, the current market price. This is the first transaction involving its own stock engaged in by the company. May 3 \quad Sold 400 of the shares purchased on April 1 for $25 per share. June 5 \quad Retired 600 of the shares purchased on April 1. The original issue price was $10. The par value of the stock is $5. -The entry to record the May 3 transaction is: A) B) C) D)$
C)
$Use the following information to answer the question below. The following transactions involving Cactus Wren Corporation occurred during the year: Apr. 1 \quad Purchased 2,000 shares of its own preferred stock for $20, the current market price. This is the first transaction involving its own stock engaged in by the company. May 3 \quad Sold 400 of the shares purchased on April 1 for $25 per share. June 5 \quad Retired 600 of the shares purchased on April 1. The original issue price was $10. The par value of the stock is $5. -The entry to record the May 3 transaction is: A) B) C) D)$
D)
$Use the following information to answer the question below. The following transactions involving Cactus Wren Corporation occurred during the year: Apr. 1 \quad Purchased 2,000 shares of its own preferred stock for $20, the current market price. This is the first transaction involving its own stock engaged in by the company. May 3 \quad Sold 400 of the shares purchased on April 1 for $25 per share. June 5 \quad Retired 600 of the shares purchased on April 1. The original issue price was $10. The par value of the stock is $5. -The entry to record the May 3 transaction is: A) B) C) D)$

A Company Purchases 300 Shares of Its $100 Par Value

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