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?
What will be an ideal response

Date Accounts and Explanation Debit Credit
2016
June 3 Treasury Stock—Common
($15 per share x 2,000 shares) 30,000
Cash 30,000

Mar. 17 Cash ($20 per share x 800 shares) 16,000
Treasury Stock—Common
($15 per share x 800 shares) 12,000
Paid-In Capital from Treasury Stock
Transactions ($5 x 800 shares) 4,000

Marketplace, Inc. will report treasury stock beneath retained earnings on the balance sheet as a reduction to total stockholders' equity.