Jorge recently learned that his son was going to need some supplemental instruction to help him be successful at school; however, the extra assistance would cost a lot of money and Jorge had not prepared for the expense. With two months to go before the extra bills would start coming in, Jorge started working 4 extra hours per week and saving the additional money to pay for the tutors. When the time came for the extra instruction to begin, Jorge had saved more than enough to pay for the help for his son. Jorge has used coping to deal with the unexpected stress of new expenses.

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, 2009, 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 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?