Exercise 11-8 Wells Fargo & Company, headquartered in San Francisco, is one of t
ID: 2596216 • 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. 41,500 Retained earnings Preferred stock 8,750 9,025 (2,450 ) 53,500 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 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
Shareholder's equity :
(2450)
Total stockholder's equity
Shareholder's equity Contributed capital Paid in capital Common stock 9025 Preferred stock 8750 Total paid in capital 17775 Additional paid in capital Paid in capital in excess of par value 53500 Total contrbuted capital 71275 Retained earnings 41500 112775 Accumlated other comprehensive income 8275 Less: Treasury stock(2450)
Total stockholder's equity
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