Post Utme Rhema University 2021 Accounting Question 37

A company's balance sheet as at 31st December, 2020, was as follows: ₦ Assets: Cash: ₦50,000 Debtors: ₦30,000 Stock: ₦40,000 Total Assets: ₦120,000 Liabilities: Creditors: ₦20,000 Capital: ₦100,000 Total Liabilities: ₦120,000 The company's accountant wants to prepare a new balance sheet as at 31st December, 2021. The company's cash balance as at 31st December, 2021, is ₦60,000. The debtors' balance as at 31st December, 2021, is ₦35,000. The stock balance as at 31st December, 2021, is ₦45,000. The creditors' balance as at 31st December, 2021, is ₦22,000. The capital balance as at 31st December, 2021, is ₦105,000. Prepare the new balance sheet.