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Tacoma inc bottles and distributes spring water on june12

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Reference no: EM13614814

Tacoma Inc. bottles and distributes spring water. On June12 of the current year, Tacoma Inc. reacquired 15,000 shares of itscommon stock at $48 per share.

  1. What is the balance of Treasury stock on December 31 ofthe current year?
  2. Where will the balance of Treasury Stock be reported onthe balance sheet?
  3. For what reasons might Tacoma Inc. have purchased thetreasury stock?

Reference no: EM13614814

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