Wells Fargo & Company , headquartered in San Francisco, is one of the nation’s l

Question

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.

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.)

Retained earnings $41,200 Preferred stock 8,600 Common stock—$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares 8,860 Treasury stock—67,346,829 common shares (2,420 ) Paid-in capital in excess of par value—common stock 53,200 Accumulated Other Comprehensive Income 8,260

Explanation / Answer

Stockholders’ Equity

$ in millions

Stockholders' Equity:

Contributed Capital:

Common Stock

$8,860

Preferred Stock

$8,600

Additional Paid in Capital

Paid in Capital In Excess of Par - Common Stock (81,000 Shares x $16)

$53,200

Retained Earnings

$41,200

Other accumulated Comprehensive Income

$8,260

Less: Treasury Stock

-$2,420

Total Stockholders' Equity

$117,700

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Stockholders’ Equity

$ in millions

Stockholders' Equity:

Contributed Capital:

Common Stock

$8,860

Preferred Stock

$8,600

Additional Paid in Capital

Paid in Capital In Excess of Par - Common Stock (81,000 Shares x $16)

$53,200

Retained Earnings

$41,200

Other accumulated Comprehensive Income

$8,260

Less: Treasury Stock

-$2,420

Total Stockholders' Equity

$117,700

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