Morning coffee and a balloon ride

Hot Air Balloon Katy, TX
Hot Air Balloon over Avalon at Spring Green, Katy Texas, photo credit wikiWings

It’s a quiet morning with just a breeze. On the horizon, I spot a hot air balloon and it’s occasionally dropping below the nearby roof tops. The breeze is blowing toward us, that is, my wife and granddaughter. Looks like the balloon will float right by.

I point in the direction my granddaughter should look, and she exclaims “I’ve never seen a hot air balloon in Texas!” She’s never seen a hot air balloon period. She’s just three years old. Continue reading “Morning coffee and a balloon ride”

Texas Aircraft Expo 2016

Texas Aircraft Expo, KIWS
Texas Aircraft Expo at West Houston Airport, photo credit wikiWings

The West Houston Airport hosted a Texas Aircraft Expo 2016 this past Friday and Saturday. We were able to see some of the newest aircraft and technology on the market.

Mooney is back in production and making the rounds. Their new Acclaim Ultra has a composite shell for quieter flight and a pilot door that improves access for all occupants.

Cirrus Aircraft was on site with a complete display of static planes and booth with videos and supporting information sponsored by Tidal Aviation. The Cirrus Jet was not onsite.

Cessna and Piper also had static aircraft displays with support staff to talk about the latest changes.

The TBM 930 was present. Impressive transportation that takes GA into higher flight levels.

It was a good time to meet with manufacturer reps and to socialize with fellow pilots and aviation enthusiasts. Demo flights were enjoyed by many and we flew our usual weekend routes for local food and fellowship.

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How do you present owner’s equity on the balance sheet of a shared airplane ownership?

Owner equity is also known as the book value of a company because it is equal to total assets minus reported liabilities. Each co-owner of the airplane should have a capital account similar to the example shown on this balance sheet. Continue reading “How do you present owner’s equity on the balance sheet of a shared airplane ownership?”