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 31,2017:$$\begin{array} { l r }
\text { Wages Expense } & \$ 82,000 \
\text { Rent Collected in Advance } & 8,000
\end{array}$$
Determine the effect on the accounting equation of any adjusting entries necessary at December 31,2017,for each of the transactions that follow:

A. The rent collected in advance represents rent for the period December 1,2017 , through January 31, 2018.

B. In addition to the wages pad during the year, employees have not been paid for the last week of December which amounts to $\$ 900$.

Question

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 31,2017:$$\begin{array} { l r } 
\text { Wages Expense } & \$ 82,000 \
\text { Rent Collected in Advance } & 8,000
\end{array}$$  
Determine the effect on the accounting equation of any adjusting entries necessary at December 31,2017,for each of the transactions that follow:
 
 A. The rent collected in advance represents rent for the period December 1,2017 , through January 31, 2018.

B. In addition to the wages pad during the year, employees have not been paid for the last week of December which amounts to $\$ 900$.

Quizplus · Accepted Answer

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 31,2017:$$\begin{array} { l r } 
\text { Wages Expense } & \$ 82,000 \
\text { Rent Collected in Advance } & 8,000
\end{array}$$  
Determine the effect on the accounting equation of any adjusting entries necessary at December 31,2017,for each of the transactions that follow:
 
 A. The rent collected in advance represents rent for the period December 1,2017 , through January 31, 2018.

B. In addition to the wages pad 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 Shine Wages Expense $82,000 Rent Collected in Advance 8,000\begin{array} { l r } \text { Wages Expense } & \$ 82,000 \\\text { Rent Collected in Advance } & 8,000\end{array} Wages Expense Rent Collected in Advance ​$82,0008,000​

Super Clean Operates an Automatic Car Wash Business,The Ultimate Shine $\begin{array} { l r } \text { Wages Expense } & \$ 82,000 \\\text { Rent Collected in Advance } & 8,000\end{array}$