Wells Fargo & Company , headquartered in San Francisco, is one of the nation’s l

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, 2014.

Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 2014.

WELLS FARGO & COMPANY
Partial Balance Sheet
December 31, 2014
(in millions)

Retained earnings $40,000 Preferred stock 8,333 Common stock—$12/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares 8,618 Treasury stock—67,346,829 common shares (2,430 ) Paid-in capital in excess of par value—common stock 52,526

Explanation / Answer

StockHolder Equity For Wells Fargo:

CommonStock Capital + Retained Earnings + Additional Paid in Capital Less Treasury Stock = 40000 + 8618 + 52526 - 2430 = $ 98714

Preferred Equity does not form part of stockholder equity

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