1.2.3.4.

On January 1. Laurel Company prepaid $6,000 rent on a building for twelve months. If the company prepares adjustments on January 31, the necessary adjustment would: Increase assets $6.000 Decrease assets and increase stockholders' equity S500. Decrease assets and stockholders' equity 3500, Have no effect on total assets On January 1, 2020, Samford Company collected $6,000 in advance from a customer for services to be provided evenly over the next six months. If Samford prepares adjustments on January 31, the necessary adjustment would: Have no effect on the balance sheet Decrease Urearned Revenue and increase Retained Earnings $1.000 Increase Cash and Retained Earnings $1.000. Incrcase Cash and Uncamed Revenue 56.000 Logan Company pays their employees $1.000 a day for a five-day workweek. Monday thru Friday. The end of the accounting period, January 31, falls on a Wednesday, The employees have worked three days since the last payday. If Logan prepares adjustments on January 31, the necessary adjustment would Decrease liabilities and increase stockholders equity. Have no effect on the accounting equation Increase liabilities and decrease stockholders' equity Decrease assets and stockholders equity. Logan Company pays their employees $1.000 a day for a five-day workweek. Monday thru Friday. The end of the accounting period, January 31, falls on a Wednesday, The employees have worked three days since the last payday. If Logan prepares adjustments on January 31, the necessary adjustment would Decrease liabilities and increase stockholders equity. Have no effect on the accounting equation Increase liabilities and decrease stockholders' equity Decrease assets and stockholders equity