Clark bell started a personal financial planning business when he accepted $36,000 cash as advanced 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!

1. How much revenue would bell recognize on the year 2 income statement?

2.what is the amount of cash flow from operating activities in year 2?

CLARK BELL PERSONAL FINANCIAL PLANNING Horizontal statements model for year 1 Balance sheet of cash flows ncome statement Stockholder's equity Net vent Assets Liabilities Uneamed Retained camings Cash 36000OA Advance S36000 36000 payment Revenue 0 Total 3000 21000 $21000 -02100 36000 -21000 21000 1000 0 21000 NA arned $36000