1 TEST ONE MAKE UP ACCT 201 THERE ARE 7 QUESTIONS WORTH 20 MARKS Q1. Use the following information to answer Qia, b&c17 marks). JN The records of Skymaster Airplane Rentals show the following information as of Dec 31, 2009 $36,000 2,000 24,000 2009 Wages expense. 2009 Advertising expense.... Cash $75,000 22,000 11,000 Accounts payable Insurance expense Accounts receivable H. Skymaster, capital, December 31, 2008 Airplanes. Notes payable Hangar 150,000 150,000 47,000 60,000 Office Furniture 2009 Maintenance expense 2009 Revenues... 15,000 39,000 217.000 IN 2 Skymaster withdrew $52,000 during 2009 for personal expenses. Qia. Create an Income Statement for Skymaster Airplane Rentals Revenue 11 Net Income Q1b. Create a Statement of Owner's Equity for Skymaster Airplane Rentals Beginning Qic. Create a Statement of Financial Position for Skymaster Airplane Rentals Assets Liabilities Owner's Equity Total Total