The SGC Inc. is an environmental biotech startup that has been working on wastewater management using...

 

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The SGC Inc. is an environmental biotech startup that has been working on wastewater management using microalgae technology. The company's revenue for the month ended July 2020 is $125,000. For the same time period, the company spent $45,000 on the culture technology. The company pays $35,000 for employee wages and benefits, $15,000 for utilities, $30,000 for lease, and $10,000 for miscellaneous items. The company has $35,000 in cash, $85,000 in equipment, and $65,000 in share holders' investment. The accounts payable and the wages payable are $20,000 and $10,000, respectively. Generate the balance sheet for this company for the month ended July 2020. a) List the company's assets and calculate the total assets. b) List the company's liabilities and calculate the total liabilities. c) List the owner's equity and calculate the total owner's equity. d) Generate the company's balance sheet for the month ended July 2020. e) Are the company's total assets balanced by the total liabilities and the total equity? The SGC Inc. is an environmental biotech startup that has been working on wastewater management using microalgae technology. The company's revenue for the month ended July 2020 is $125,000. For the same time period, the company spent $45,000 on the culture technology. The company pays $35,000 for employee wages and benefits, $15,000 for utilities, $30,000 for lease, and $10,000 for miscellaneous items. The company has $35,000 in cash, $85,000 in equipment, and $65,000 in share holders' investment. The accounts payable and the wages payable are $20,000 and $10,000, respectively. Generate the balance sheet for this company for the month ended July 2020. a) List the company's assets and calculate the total assets. b) List the company's liabilities and calculate the total liabilities. c) List the owner's equity and calculate the total owner's equity. d) Generate the company's balance sheet for the month ended July 2020. e) Are the company's total assets balanced by the total liabilities and the total equity?

Answer rating: 100% (QA)

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