You have agreed to help your brother-in-law prepare financial statements for the first six months of his newly created computer repair business. He hands you a shoebox with his bank statements detailing the cash collections and cash payments during the year. You also find in the shoebox some invoices for equipment and supplies purchased during the year along with a record of services provided to customer including dates and amounts billed. Where would you begin to make sense of this mess and what steps would you take to provide him a set of financial statements using accrual accounting

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?