An employee receives an hourly rate of $30, with time and a half for all worked in excess of 40 during a week. payroll data for the current week are as follows: hours worked 48; federal income tax withheld, $300 cumulative earning for year prior to current week $90 700 social security tax rate, 6.0% on a maximum of $100,000 and medicare tax rate 1.5% on all earnings. what is the net amount to be paid to the employee?

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?