In case collected cash from a customer is for services that will be performed in the next accounting period the cash flow from operating activities will increase.
The cash flow from operating activities will increase cash flow in the period of receipt itself as it will result in an increase in the cash balance of the organization In case collected cash from a customer is for services that will be performed in the next accounting period.
If the balance of an asset will increase, cash float from operations will be lower. If the stability of an asset decreases, cash flow from operations will boom. If the balance of liability will increase, cash flows with the flow from operations will grow. If the balance of a liability decreases, cash flows with the flow from operations will decrease.
An accounting period, in bookkeeping, is the length with reference to which control accounts and economic statements are organized. In management accounting, the accounting length varies extensively and is decided with the aid of management. monthly accounting durations are common.
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B. False. More real-world, relevant and important ideas to keep in mind when shopping for shoes and clothes are the associated quality of the manufacturer, which could be a brand name. Also, of utmost importance is the overall quality of the product with relation to its cost. The size of the item is also important. Do not buy an overpriced item, that does not fit properly and is made of cheap materials that quickly break.
Answer:
A liability account in the balance sheet.
Explanation:
When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;
Debit Cash account
Credit Unearned/Deferred rental revenue
The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.
As such, the collection of rent in advance is A liability account in the balance sheet.
This is an education app... thanks for the points tho lol
