North West Company Inc. is a leading retailer to underserved rural communities and urban markets in Northern

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North West Company Inc. is a leading retailer to underserved rural communities and urban markets in Northern and Western Canada and internationally. Its stores offer a broad range of products and services with an emphasis on food. Exhibit 3.30 contains an excerpt from the company’s consolidated financial statements for the year ended January 31, 2021.


Required 

a. Determine the company’s ending Retained Earnings balance. 

b. Identify three things that we know about the company because it has an opening balance in Retained Earnings.
c. The company had accounts payable and accrued liabilities of $205,202 thousand at January 31, 2021. Identify two possible liabilities the company may have had as part of this balance. 

d. Based on the information below (given in thousands of dollars), determine the carrying value of the North West Company’s buildings and computer equipment. Comment on how old or new these capital assets are and how you determined this.

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Understanding Financial Accounting

ISBN: 9781119715474

3rd Canadian Edition

Authors: Christopher D. Burnley

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