British Columbia Institute of Technology EMGT 1100 - Accounting 1 C. ADJUSTING JOURNAL ENTRIES (14 Marks) The unadjusted trial balance of Darcy Consulting Services at December 31, 2019 follows. Credit Debit $4,800 10,400 2,000 1,000 400 16,500 $2,400 Cash Accounts receivable Prepaid insurance Prepaid rent Office supplies Equipment Accumulated depreciation Salaries payable Interest payable Unearned service revenue Note payable Ted Darcy, capital Ted Darcy, drawings Service revenue Salaries expense Depreciation expense Rent expense Insurance expense Office supplies expense Interest expense 600 8,000 15,200 3,000 32,700 20,500 300 $58,900 $58.900 Given the following information above, on the next page prepare the necessary adjusting entries at year end, December 31, 2019, for Darcy Consulting Services. a) A count revealed that $100 of office supplies were still on hand at December 31, 2019 So b) The accountant has determined that the prepaid insurance balance at December 31, 2019, should be in the amount of $450. c) The equipment is depreciated at the rate of $200 per month d) The accountant has determined that the unearned service revenue balance at December 31, 2019, should be in the amount of $350 e) Interest of $200 on the note payable has accrued to the end of the year. Salaries accrued at December 31, 2019, amounted to $650. The accountant has determined that the prepaid rent balance at December 31, 2019, should be in the mount of $100