The sleeping beauty lodge is a 200-room hotel that was built ten years ago for a total project cost of $10,000,000. the market value of the facility is now estimated at $15,000,000 and the general manager estimates that the level of guest services is worth at least $3,000 per room per year. a close competitor of the hotel charges $75 per night per room. according to the $1 per $1,000 approach to pricing rooms, what should the price of a room night be at the sleeping beauty lodge?

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?