G Chelsea Company presented the following data at the end of 2019: Cash $1,575,000 Accounts receivable 2,800,000 Merchandise inventory 2,450,000 Prepaid insurance 262,500 Property & equipment 7,000,000 Accounts payable 525,000 Unearned revenue 600,000 Wages payable 1,200,000 Bonds payable (due in 10 years) 3,000,000 Determine the current ratio for Chelsea Company (rounded to the nearest 2 decimal places, any answers that is +/- .05 from the correct answer will be marked correct)

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?