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As Bob says, just think of the acceleration of the elevator as adding to g, the "acceleration of gravity".
Since water falls and air-filled balls in water rise under the influence of gravity, they will do the same in the accelerating elevator, although we should use (g+a) instead of g everywhere. For a floating object we have equilibrium with Weight (downward) + Buoyancy_Force (upward) == 0, so in magnitude, mg == rho g V, and the actual value of g cancels out, so it makes no difference whether the experiment is done on terra firma, or in an upward accelerating elevator (replacing g by (g+a)), or on the moon, etc.