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On 25 June 20X3, Buttercream Tarts Ltd received $1 000 for a cake decorating class to be delivered in September 20X3. Required: Apart from an

On 25 June 20X3, Buttercream Tarts Ltd received $1 000 for a cake decorating class to be delivered in September 20X3.

Required:

Apart from an increase in cash at bank, explain what else Buttercream Tart Ltd should recognise on 25 June 20X3. Use the relevant definition and recognition criteria for the elements of financial statements from the Conceptual Framework.

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