Primo Industries collected $106,000 from customers in 2017. Of the amount collected, $25,600 was for services performed in 2016. In addition, Primo performed services worth $40,700 in 2017, which will not be collected until 2018. Primo Industries also paid $73,700 for expenses in 2017. Of the amount paid, $30,900 was for expenses incurred on account in 2016. In addition, Primo incurred $42,000 of expenses in 2017, which will not be paid until 2018.(a) Compute 2014 cash-basis net income. Cash-basis net income $ (b) Compute 2014 accrual-basis net income. Accrual-basis net income $

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?