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Slippery Slope Resort ends its fiscal year on April 3 0 . The resort adjusts its accounts monthly but closes them only at year -
Slippery Slope Resort ends its fiscal year on April The resort adjusts its accounts monthly but closes them only at yearend April The busy season is from December through March
Anita Powder, the resorts chief financial officer, keeps a close watch on Lift Ticket Revenue and Cash. The balances of these accounts at the end of each of the last five months are as follows:
Lift Ticket Revenue Cash
November $ $
December
January
February
March
Ms Powder prepares income statements and balance sheets for the resort. Assuming they are prepared for:
The month ended January
Indicate what amount will be shown in the statements for Lift Ticket Revenue.
Indicate what amount will be shown in the statements for Cash.
The entire busy season to datethat is December through March
Indicate what amount will be shown in the statements for Lift Ticket Revenue.
Indicate what amount will be shown in the statements for Cash.
In terms of Lift Ticket Revenue and increases in Cash, which has been the resorts best month?
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