Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Wells Fargo & Company , headquartered in San Francisco, is one of the nations largest financial institutions. Suppose it reported the following selected accounts (in
Wells Fargo & Company, headquartered in San Francisco, is one of the nations largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2017.
Retained earnings | $41,300 | ||
Preferred stock | 8,650 | ||
Common stock$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares | 8,915 | ||
Treasury stock67,346,829 common shares | (2,430 | ) | |
Paid-in capital in excess of par valuecommon stock | 53,300 | ||
Accumulated Other Comprehensive Income | 8,265 |
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.)
Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Accumulated Other Comprehensive Income Less : Paid-in Capital in Excess of Par Value-Common Stock Treasury Stock + Total Stockholders' Equity + + WELLS FARGO & COMPANY Partial Balance Sheet December 31, 2017 (in millions) ; $ $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started