The Records of Skymaster Airplane Rentals Show the Following Information

question 94

Essay

The records of Skymaster Airplane Rentals show the following information as of December 31,2014:
$\begin{array}{|l|r|l|r|}\hline \text { Accounts payable } & \$ 36,000 & 2014 \text { wages expense } & \$ 75,000 \\\hline \text { Insurance expense } & 2,000 & 2014 \text { advertising expense } & 22,000 \\\hline \text { Accounts receivable } & 24,00 & \text { Cash } & 11,000 \\\hline \text { Retained earnings, } & & \text { Common stock } & 20,000 \\\text { December } 31,2013 & 130,000 & \text { Office furniture } & 15,000 \\\hline \text { Airplanes } & 150,000 & 2014 \text { maintenance expense } & 39,000 \\\hline \text { Notes payable } & 47,000 & 2014 \text { revenues } & 217,000 \\\hline \text { Hangar } & 60,000 & &\\\hline\end{array}$
Dividends of $52,000 were paid during 2014.
Using the above information,prepare a balance sheet at December 31,2014.

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Definitions:

Cultural Compatibility

The degree to which different cultures can coexist and interact harmoniously within an organization or between entities, affecting collaboration and integration.

Repair Service

A service provided by companies or individuals to fix damaged or malfunctioning products, aiming to restore them to their proper working condition.

Purchasing

The process of obtaining goods, services, or works from an external source with specific terms and conditions.