The consolidated statement of stockholders’ equity for Jackson Electronics, Inc., a manufacturer of a broad line of electrical components, is presented on the previous page. It has nine summary transactions.
1. Prepare an entry in journal form with an explanation for each transaction. In each case, if applicable, determine the average price per common share. At times, you will have to make assumptions about an offsetting part of the entry. For example, assume debentures (long-term bonds) are recorded at face value and that employees pay cash for stock purchased under company incentive plans.
2. Define comprehensive income and determine the amount for Jackson Electronics.
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