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.