Alpine west inc operates a downhill ski area near lake

Reference no: EM13390104

Alpine West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day, adult ticket can be purchased for $55. Adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from December 1 through April 30. The season pass is nontransferable, and the $450 price is nonrefundable. Alpine expects its season pass holders to use their passes equally throughout the season. The company's fiscal year ends on December 31.

On November 6, 2013, Jake Lawson purchased a season ticket.

Required:

1.When should Alpine West recognize revenue from the sale of its season passes?

2.Prepare the appropriate journal entries that Alpine would record on November 6 and December 31.

3.What will be included in the 2013 income statement and 2013 balance sheet related to the sale of the season pass to Jake Lawson?

Determine the future value of the following single amounts:

Invested Amount Interest Rate No. of periods

1. $15,000 6% 12

2. $20,000 8% 10

3. $30,000 12% 20

4. $50,000 4% 12

Reference no: EM13390104

Questions Cloud

Examine how sales forecast impacts all other forecasts for : forecasting is used as a tool for planning. when developing forecasts firms need to think of all possible scenarios and

A explain how would you measure the efficiency of the : write a paper of approximately 750 words that answers the following questionsa how would you measure the efficiency of

From the case study hypothesize the usefulness of the nps : measuring customer satisfaction and focus groups please respond to the followingbullfrom the case study hypothesize the

When management controls more than 50 of the shares of the : 1. in general the role of the financial manager is to plan for the acquisition and use of funds so as to maximize the

Alpine west inc operates a downhill ski area near lake : alpine west inc. operates a downhill ski area near lake tahoe california. an all-day adult ticket can be purchased for

Suppose that all factors affecting demand in this model : assume that all the factors affecting demand in this model remain the same but that the price has changed. further

Consider the forecasts described below compute mad and mfe : 1 consider the forecasts shown below. calculate mad and mfe using the data for months january through june. does the

Make an exponential smoothing forecast sd025 for periods : consider the following dataperioddemand10248114301232413263145551 developnbsp a 3 period moving average forecast for

Do you feel that companies which operated as monopolies are : pareto optimality states a change is efficient as long as at least one person is better off and no people are worse off

User Account

All Pages