Exercise 11-8 Your answer is correct. Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions. It reported the following selected accounts (in millions) as of December 31, 2009. Retained earnings $41,563 Preferred stock 8,485 Common stock—$12/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares 8,743 Treasury stock—67,346,829 shares (2,450 ) Additional paid-in capital—common stock 52,878 Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 2009.

Exercise 11-8

 

	Your answer is correct.

Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions. It reported the following selected accounts (in millions) as of December 31, 2009.

Retained earnings		$41,563
Preferred stock		8,485
Common stock—$12/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares		8,743
Treasury stock—67,346,829 shares		(2,450	)
Additional paid-in capital—common stock		52,878

Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 2009.

 

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