Ski west, inc., operates a downhill ski area near lake tahoe, california. an all-day adult lift ticket can be purchased for $65. 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. ski west 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, 2018, jake lawson purchased a season pass for $355.required: 1. when should ski west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that ski west would record on november 6 and december 31.3. what will be included in the ski west 2018 income statement and balance sheet related to the sale of the season pass to jake lawson?

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?