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I am not sure what you are referring to, but in the words "customer advances" I will assume you are referring to a person or company providing a service or product to the customer with expectations of payment at a later date.
If this is the case, then the recording of this would be seen in Accounts Receivable or Notes Receivable (depending on the amount of time the customer is given to pay the amount).
If not paid out in the period when the Balance Sheet is prepared such advances are listed under assets using the same account (Accounts or Notes Receivable)
Please Note, if they are paid off, then the balance is removed from Accounts/Notes Payable and recorded into Revenue (Income) which is not on the Balance Sheet.
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∙ 14y ago
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Where do fix assets go on a balance sheet?
they fall in the first column of a balance sheet
Where do fixed assets go on balance sheet?
they fall in the first column of a balance sheet
Does a liability account go on a balance sheet?
Liabilities are included on the credit side of the balance sheet.
Where does stationary go on a balance sheet in business studies?
Stationery, as an accounting item, does not appear on a business Balance Sheet. The Balance Sheet is reserved for assets and liabilities. The Income Statement reflects income and expenses and because Stationery is an expense item it will appear on the Income Statement and not the Balance Sheet.
Do expenses go on a balance sheet?
no
Do drawings go on a balance sheet?
yes
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Does accounts receivable go on a balance sheet as liabilities and equity?
Accounts receivable would appear as an asset (+) on a balance sheet.
Where does overdraft go to balance sheet or profit and loss account?
Bank overdraft is shown in balance sheet either as a negative amount of bank in asset side or at liability side of balance sheet.
What goes on income statement and what goes on balance sheet?
expenditures and revenue go to income statement while assets, liabilities and capital go to the balance sheet.
Where does electricity go on the balance sheet?
Electricity is not part of balance sheet rather it is an expense and it is shown in income statement of business as expense.
Where does prepaid expense go on balance sheet?
Prepaid expenses are shown in current assets under assets portion of balance sheet.
