Marketplace,Inc $\$ 15$ Per Share
June 14 Sold 800 Shares of the Treasury Stock

question 79

Essay

Marketplace,Inc.completed the following treasury stock transactions in 2016:
June. 3 Purchased 2,000 shares of the company's \$5 par value common stock as treasury stock, paying cash of $\$ 15$ per share.
June 14 Sold 800 shares of the treasury stock for cash of $\$ 20$ per share. Journalize these transactions.Explanations are not required.
How will Marketplace,Inc.report treasury stock on its balance sheet as of December 31,2016?

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Definitions:

Underemployment

describes a situation where workers are employed in capacities below their skill level or work fewer hours than they would prefer.

Opportunity Cost

The cost of what is forgone in order to pursue a certain action or decision.

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm's or industry's output expands.

Factor Suitability

A principle in economics that factors of production such as land, labor, and capital are more productive when appropriately matched with their specific uses or industries.