Super Clean operates an automatic car wash business, The Ultimate Shine. The following amounts were taken from the company's unadjusted trial balance at December 31, 2014:
Wages Expense 82,000
Rent Collected in Advance 8,000
Determine the effect on the accounting equation of any adjusting entries necessary at December 31, 2014, for each of the transactions that follow.
A The rent collected in advance represents rent for the period December 1, 2014 through January 31, 2015.
B In addition to the wages paid during the year, employees have not been paid for the last week of December which amounts to $900.

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The Answer of Super Clean operates an automatic car wash business, The Ultimate Shine. The following amounts were taken from the company's unadjusted trial balance at December 31, 2014:
Wages Expense 82,000
Rent Collected in Advance 8,000
Determine the effect on the accounting equation of any adjusting entries necessary at December 31, 2014, for each of the transactions that follow.
A The rent collected in advance represents rent for the period December 1, 2014 through January 31, 2015.
B In addition to the wages paid during the year, employees have not been paid for the last week of December which amounts to $900.

Super Clean Operates an Automatic Car Wash Business, the Ultimate