Darcy Systems This is a continuation of the Unit 2 assignment, after all corrections have been made Chapter 2 segment has not been completed, the assignment can begin at this point. After the success of its first two months, Darcy Zaylo has decided to continue operating Darcy Systems. Before proceeding in December, Zaylo adds these new accounts to the chart of accounts for the ledger: \begin{tabular}{l|l|} \hline \multicolumn{1}{|c|}{ Account } & No. \\ Accumulated Depreciation, Office Equipment & 164 \\ Accumulated Depreciation, Computer Equipment & 168 \\ Wages Payable & 210 \\ Unearned Computer Services Revenue & 236 \\ Depreciation Expense, Office Equipment & 612 \\ Depreciation Expense, Computer Equipment & 613 \\ Insurance Expense & 637 \\ Rent Expense & 640 \\ Computer Supplies Expense & 652 \\ \hline \end{tabular} Required 1. Prepare journal entries to record each of the following transactions for Darcy Systems. Post the entries to the accounts in the ledger. 2. The opening balances should match your balances in the last assignment Dec. 3 Paid $2,700 to the Seashelt Mall for the company's share of mall advertising costs for December. 3 Paid $85 to repair the company's computer. 4 Received the balance owing from Reynolds Plumbing Co. 10 Paid Chris Douglas for nine days' work at the rate of $240 per day. 14 Notified by Reynolds Plumbing Co. that Darcy's bid of $9,000 on a proposed project was accepted. Reynolds paid an advance of $2,500. project was accepted. Reynolds paid an advance of $2,500. 17 Purchased $1,900 of computer supplies on credit from Morris Supplies. 18 Sent a reminder to Pelletier Food Services to pay the $3,650 originally recorded on November 8 . 20 Completed a project for Abee Gravel \& Sand Co. and received $4,900 cash. 24-28 Took the week off for the holidays. 31 Received $1,400 as partial payment from Pelletier Food Services. 31 Reimbursed Darcy Zaylo's business automobile expenses of 1,420 kilometres at $2.05 per kilometre. 31 Darcy Zaylo withdrew $1,800 cash from the business. 2. Prepare adjusting entries to record the following additional information collected on December 31,2020 . Post the entries to the accounts in the ledger. Dec. 31 a. The December 31 inventory of computer supplies was $545. b. Three months have passed since the annual insurance premium was paid. c. As of the end of the year, Chris Douglas has not been paid for 14 days of work at the rate of $240 per day. d. The computer equipment is expected to have a two-year life with no residual value. e. The office equipment is expected to have a five-year life with no residual value. f. Prepaid rent for three of the six months has expired. Darcy Systems GENERAL JOURNAL Page 4 \begin{tabular}{|l|l|l|l|l|l|} \hline Date & Account Titles and Explanations & PR & Debits & Credits \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Darcy Systems Statement of Changes in Equity For Three Months Ended December 31, 2020 Darcy Zaylo, capital, October 1 Add: Owner investments Total Less: Withdrawals Net loss Darcy Zaylo, capital, November 30 $00000$0 Darcy Systems Balance Sheet December 31, 2020 Assets Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Less: Accumulated Depreciation, Office Equipment Computer Equipment Less: Accumulated Depreciation, Computer Equipment Total assets Liabilities Accounts Payable Wages Payable Unearned Computer Services Revenue Total liabilities $0 0 0 0 0 $0 0 0 $0 $0 0 \$0 Equity Darcy Zaylo, Capital Total liabilities and equity $000$0 0 $0