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The following information pertains to Questions 8, 9, 81 10 (1 point each) Generis Consulting (GC) provides Environmental, Social, & Governance (ESG) services to small

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The following information pertains to Questions 8, 9, 81 10 (1 point each) Generis Consulting (GC) provides Environmental, Social, & Governance (ESG) services to small businesses. The following GC nancial information is available to prepare budgets for January 2022. a) The ESG Balance Sheet of December 31, 2021, is: Cash $62,000 Accounts Payable $40,000 Accounts , $54,000 Note Payable $10,000 Receivable E ' t qu'pmen $80,000 Common Stock $50,000 (net) Retained . $96,000 Earnings Total Liabilies & Total Assets $196,000 _ $196,000 EqUIty b) Revenue in December 2021 was $90,000, and budgeted revenue for January 2022 is $85,000. c) 40% of revenue is collected in the month earned, and 60% is collected the following month. c) Budgeted monthly expenses (excluding interest expense) are: Salaries Rent Depreciation on Equipment Utilib'es Ofce Supplies e) Equipment purchases are paid the month following the purchase. All other expenses are paid in the current month. The $40,000 accounts payable is computer equipment purchased in December 2021. f) The note payable is a 5 year 8% per annum note, taken out in December 2021, with the first loan payment due at the end of January 2022. Interest of $67 and principal of $136 comprise the January 2022 loan payment. g) Taxes are paid in the month incurred. The tax rate is 20%. (round to the nearest dollar).

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