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.

Retained earnings		$41,100
Preferred stock		8,550
Common stock—$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares		8,805
Treasury stock—67,346,829 common shares		(2,410	)
Paid-in capital in excess of par value—common stock		53,100
Accumulated Other Comprehensive Income		8,255

Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 2017.

Answer 1

Wells Fargo & Compan Balance Sheet (Partial Shareholder's Equit Preferred Stock Preferred Stock Comman Stock Common Stock, $1 2/3 stated par 6,000,000,000 shares authoriesed, Issued and Outstanding 5,245,971,422 shares Total Capital Stock Additional paid - in capital $ In millions $In millions 8,550.00 8,805.00 $17,355.00 Paid in Capital in excess of par, Preferred Stock Paid in Capital in excess of par, Common Stock Paid in Capital in excess of par, treasury Stock Total additional paid - in - capital Total Paid in Capital Beginning Retain earnings Add:- Net Income Less:- dividend Paid Ending Retain Earnin Accumulated and other comperhensive income Total paid in capital and retain earnings 53,100.00 53,100.00 $70,455.00 $41,100.00 $0.00 $0.00 $41,100.00 $41,100.00 $8,255.00 $119,810.00 ($2,410.00 $117,400.00 Less:- Treasure Stock (67,346,829 common shares Total Shareholder's Equit