headquartered in San Francisco, is one of the nations largest financial institutions. Suppose it reported the following
Question:
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, 2022.
Retained Earnings.................$41,563
Preferred Stock.................8,485
Common Stock—$1(2/3) par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares
.................8,743
Treasury Stock—67,346,829 common shares.................(2,450)
Paid-in Capital in Excess of Par Value—Common Stock .................52,878
Accumulated Other Comprehensive Income.................8,327
Instructions
Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 2022.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Step by Step Answer:
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso