Marketplace,Inc.completed the following treasury stock transactions in 2016:
Journalize these transactions.Explanations are not required.
How will Marketplace,Inc.report treasury stock on its balance sheet as of December 31,2016?
Definitions:
Depositor
An individual or entity that places money into a bank account, trusting the bank for safekeeping and potentially earning interest.
Teller's Check
A check drawn by a bank on its own funds and signed by a teller, representing a guarantee of payment, often used in transactions requiring secure funds.
Drawer
The party in a transaction who writes a check or draft, instructing the bank to pay a specified amount of money from the drawer's account.
Drawee
A drawee is the party directed by the depositor to pay a certain amount to the person presenting the check or draft.
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