Based on the Adjusted Trial Balance,prepare a Balance Sheet for Martin

question 29

Essay

Based on the adjusted trial balance,prepare a balance sheet for Martin Sky Taxi Services.
$\begin{array}{c} \text { Martin Sky Taxi Services}\\ \text { Adjusted Trial Balance}\\ \text { For the vear ended December 31}\\\begin{array}{|l|r|r|}\hline \text { Cash } & \$ 28,000 \\\hline \text { Accounts receivable } & 14,200 \\\hline \text { Office supplies } & 1,700 \\\hline \text { Airplanes } & 100,000 \\\hline \text { Accumulated depreciation - Airplanes } & & 45,000 \\\hline \text { Accounts payable } & & 11,500 \\\hline \text { Common stock } & & 25,000 \\\hline \text { Retained earnings } & & 46,900\\\hline \text { Dividends } & 40,000 & \\\hline \text { Fees earned } & & 150,000 \\\hline \text { Rent expense } & 13,000 & \\\hline \text { Office supplies expense } & 2,000 &\\\hline \text { Utilities expense } & 2,500 & \\\hline \text { Depreciation Expense - Airplanes } & 15,000 & \\\hline \text { Salary expense } & 50,000 & \\\hline \text { Fuel expense } & 12,000 & \\\hline \text { Totals } & \$ 278,400 & \$ 278,400 \\\hline\end{array}\end{array}$

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Definitions:

Emics

The locally relevant components of an idea; in cross-cultural psychology, aspects of a phenomenon that are specific to a particular culture.

Etics

The universal components of an idea; in cross-cultural psychology, aspects of a phenomenon that all cultures have in common.

Individualisms

Individualism is a social theory favoring freedom of action for individuals over collective or state control.

Experience-Near Constructs

Psychological concepts or constructs that individuals can directly relate to or experience in their day-to-day lives, making them more relevant and personal.