Exercise 11-8 Wells Fargo & Company, headquartered in San Francisco, is one of t
ID: 2574352 • Letter: E
Question
Exercise 11-8 Wells Fargo & Company, headquartered in San Francisco, is one of the nation's largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2017. Retained earnings Preferred stock Common stock-$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares Treasury stock-67,346,829 common shares Paid-in capital in excess of par value-common stock Accumulated Other Comprehensive Income 40,400 8,200 8,420 2,340) 52,400 8,220 Prepare the stockholders' equity section of the balance sheet for Wells Fargo as of December 31, 2017. (Enter account name only and do not provide descriptive information.) WELLS FARGO &COMPANY; Partial Balance Sheet (in millions)Explanation / Answer
Well Fargo & Co
Common Stock -1 2/3 par value,authorised 6,000,000,000
issued 5245971422 shares
Equity Section $ $ $ Capital Stock Preffered Stock 8200Common Stock -1 2/3 par value,authorised 6,000,000,000
issued 5245971422 shares
8420 16620 Additional Paid In Capital Paid in capital in excess of par value-common stock 52,400 52400 Total Paid In Capital 69020 69020 Retained Earning 40400 Accumalated Other Comprehensive Income 8220 Less:Treasury Stock-67346829 common shares (2340) Total Share Holder Equity 115300Related Questions
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