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Required information [The following information applies to the questions displayed below) Pacific Gas and Electric...

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Accounting

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Required information [The following information applies to the questions displayed below) Pacific Gas and Electric Company is a giant public utility operating in northern and central California whose annual revenues exceed $17 billion. It reported the following December 31 simplified balances in its statement of stockholders equity (dollars in millions): Common stock Paid-in capital Retained earnings Current Year Prior Year $1,322 $1,321 8,505 8,050 9,656 8,763 During the current year, Pacific Gas and Electric reported net income of $1,691 2. Assume that the only other transaction that affected stockholders' equity during the current year was a single stock Issuance for cash Recreate the journal entry reflecting the stock issuance (in millions) (if no entry is required for a transaction/event, select "Ne journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet

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