DO ALL THE $3$ REQUIREMENTS AND GIVE THE FULL FINANCIAL STATMENT IN A CHART FORMAT

ki West, incorporated, operates a dowrihll ski area neer Lake Tahoe, California. An all$-$dwy adul lift ticket can be purchased for $$85,$

Adulf customers also can purchase a season pass thet entites the poss holder to ski any day during the senson$,$ which typically runs

from Oecember $1$ through April $30.$ Ski West expects its season pass holders to use thei passes equally throughout the season. The

compery$/$s tscal year encts on December $31.$

On Nowember $6,2024,$ Sk West sels a season pess to Joke Lewson for $$450.$

Required:

When shauld Suj West recsgrize reverue fram the sale of its seasan passes?

What are the financial stmetrent effects from the sale of the senson pass on Nowember $6,2024?$

What will be induded in Sk West's $2024$ income statement and balonce sheet related to the sole of the sewson pass to doke

Lwwson?

Complete this question by entering your answers in the tabs below.

Mequired $2$ Asuared $2$ Recuired $3$

What are the financial statement effects from the sale of the seasen pass on November $6,2024?$

Ski West, Incerparated, operates a downhil ski area rear Lake Tahoe, California. An al$-$day adut it ticket can be purchased for $$85.$

Adulf custamers who can purchase a season poss that entities the pass holder to ski any dey during the senson$,$ which typicaly rums

from Decrember $1$ through April $30.$ Ski West expects its season pass holders to use their passes equally throughout the season. The

compary's fiscal yes ends on December $31.$

On Nowomber $6,2024,$ Sul West sels a soson pass to Jake Lawson for $$450.$

Required:

When should Ski West recognize revenue trom the sale of its season passes?

What are the financlal statement effects from the sale of the season pass on November $6,2024?$

What will be included in Swi West's $2024$ income statement and balarce sheot related to the sale of the season pass to Jake

Limson?

Complete this question by entering your answers in the tabs below.

Ch $5$ HW $1$

Ski West, Incorporated, operates a downhill ski area near Lake Tahoe, California. An all$-$day adult iff ticket can be purchased for $$85.$

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

from December $1$ through April $30.$ Ski West company's fiscal year ends on December $31.$

On November $6,2024,$ Ski West sells a season pass to Jake Lawson for $$450.$

Required:

When should Ski West recognize revenue from the sale of its season passes?

What are the financial statement effects from the sale of the season pass on November $6,2024?$

What will be included in Ski West's $2024$ income statement and balance sheet related to the sale of the season pass to Jake

Lawson?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$

When should Ski West recognize revenue from the sale of its season passes?