Consolidated Statements of Changes in Shareholders' Equity($ in thousands)Share CapitalContributed SurplusRetained EarningsAOCI(1)TotalBalance at January 31, 2015$ 167,460$ 2,831$ 140,527$ 18,465$ 329,283Net earnings for the year—–69,779–69,779Other comprehensive income (Note 12)––4,58311,95316,536Other comprehensive income of equity investee––(15)–(15)Comprehensive income––74,34711,95386,300Equity settled share-based payments–124––124Dividends (Note 19)––(58,210)–(58,210)Issuance of common shares (Note 15)450(335)––115 450(211)(58,210)–(57,971)Balance at January 31, 2016$167,910$ 2,620$156,664$ 30,418$357,612Balance at January 31, 2014$ 166,069$ 3,528$ 145,762$ 7,081$ 322,440Net earnings for the year—–62,883–62,883Other comprehensive income (Note 12)––(11,968)11,384(584)Other comprehensive income of equity investee––30–30Comprehensive income––50,94511,38462,329Equity settled share-based payments–373––373Dividends (Note 19)––(56,180)–(56,180)Issuance of common shares1,391(1,070)––321 1,391(697)(56,180)–(55,486)Balance at January 31, 2015$ 167,460$ 2,831$ 140,527$ 18,465$ 329,283ok at North West’s statement of changes in equity (which it calls “statement of changes in shareholders’ equity”). What were the balances in its share capital and retained earnings accounts at the end of 2016? At the end of 2015?($ in thousands) January 31, 2016 January 31, 2015Share capital $ $ Retained earnings $ $ Do these amounts agree to the same balances reported in the shareholders’ equity section of the statement of financial position?

The statement of changes in shareholder's equity provides the gains and losses that change the…

Answered: What were the balances in its share…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consolidated Statements of Changes in Shareholders' Equity

($ in thousands)	Share Capital	Contributed Surplus	Retained Earnings	AOCI(1)	Total
Balance at January 31, 2015	$ 167,460	$ 2,831	$ 140,527	$ 18,465	$ 329,283
Net earnings for the year	—	–	69,779	–	69,779
Other comprehensive income (Note 12)	–	–	4,583	11,953	16,536
Other comprehensive income of equity investee	–	–	(15)	–	(15)
Comprehensive income	–	–	74,347	11,953	86,300
Equity settled share-based payments	–	124	–	–	124
Dividends (Note 19)	–	–	(58,210)	–	(58,210)
Issuance of common shares (Note 15)	450	(335)	–	–	115
	450	(211)	(58,210)	–	(57,971)
Balance at January 31, 2016	$167,910	$ 2,620	$156,664	$ 30,418	$357,612
Balance at January 31, 2014	$ 166,069	$ 3,528	$ 145,762	$ 7,081	$ 322,440
Net earnings for the year	—	–	62,883	–	62,883
Other comprehensive income (Note 12)	–	–	(11,968)	11,384	(584)
Other comprehensive income of equity investee	–	–	30	–	30
Comprehensive income	–	–	50,945	11,384	62,329
Equity settled share-based payments	–	373	–	–	373
Dividends (Note 19)	–	–	(56,180)	–	(56,180)
Issuance of common shares	1,391	(1,070)	–	–	321
	1,391	(697)	(56,180)	–	(55,486)
Balance at January 31, 2015	$ 167,460	$ 2,831	$ 140,527	$ 18,465	$ 329,283

ok at North West’s statement of changes in equity (which it calls “statement of changes in shareholders’ equity”). What were the balances in its share capital and retained earnings accounts at the end of 2016? At the end of 2015?

($ in thousands)	January 31, 2016	January 31, 2015
Share capital	$	$
Retained earnings	$	$

Do these amounts agree to the same balances reported in the shareholders’ equity section of the statement of financial position?

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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