Exercise $2-20$A $($Algo$)$ Unearned revenue and the financial statements model LO $2-7$

Clark Bell started a personal financial planning business when he accepted $$68,000$ cash as advance payment for managing the

financial assets of a large estate. Bell agreed to manage the estate for a one$-$year period beginning June $1,$ Year $1.$

Required

a$.$ Show the effects of the advance payment and revenue recognition on the Year $1$ financial statements using a horizontal statements

model. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing

activity, and NC for net change in cash. If the account is not affected, leave the cell blank.

b$.$ How much revenue would Bell recognize on the Year $2$ income statement?

c$.$ What is the amount of cash flow from operating activities in Year $2?$

Complete this question by entering your answers in the tabs below.

ReqA

Show the effects of the advance payment and revenue recognition on the Year $1$ financial statements using a horizontal statements model. In the Statement of Cas

Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. If the account is not affectec

leave the cell blank.

Note: Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sian. Not all cells reauire entry.

In Cretan architecture, builders consciously rejected as unnecessary the axiality,

symmetry, and abstraction the East had employed for creating monumentality.

True

False

Question $8($Mandatory$)(10$ points$)$

Following the decline of the pyramid and the concealment of the burial chambers in

the depths of the cliffs, the mortuary temples developed into Egypt's most important

monumental form.