The December 31, 2021, adjusted trial balance of OnPoint (reflecting its transactions from October through December of 2021) is found on the trial balance tab. Record the closing entries for OnPoint. Prepare the company's income statement, balance sheet, and post-closing trial balance for the three months ended, or date of, December 31, 2021.

The December 31, 2021, adjusted trial balance of OnPoint (reflecting its transactions from October through December of 2021) is found on the trial balance tab. Record the closing entries for OnPoint. Prepare the company's Income statement, balance sheet, and post-closing trial balance for the three months ended, or date of, December 31, 2021. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing General Journal tab - Prepare closing entries for On Point' first three month of operations. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the adjusted or post-closing balances. Trial Balance tab - You may view the adjusted or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The adjusted post-closing balances will appear for each account, based on your selection. Statement of Owner's Equity tab - The adjusted or post-closing balances will appear for each account based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The adjusted or post-closing balances will appear for each account, based on your selection. Post-Closing tab - Use the drop-downs to indicate whether each account is included on the post-closing trial balance. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing Prepare the required closing entries for On Point. View transaction list View journal entry worksheet No Date Account Title Debit Credit 1 Dec 31 Computer services revenue 18,919 Dec 31 N Income summary Depreciation expense - Office equipment Depreciation expense - Computer equipment Wages expense Rent expense Insurance expense Computer supplies expense Advertising expense Mileage expense Miscellanous expenses Repairs expense - Computer Bach journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances. Post-closing General Ledger Account Cash Accounts receivable Debit Credit No. Debel Credit No Date Dec 31 Balance 46.006 Date Dec 31 Balance 4.400 Computer supplies Debat Credit Prepaid Insurance Debet Credit No. Balance No. Date Dec 31 Dails Dec 31 Balance 1860 660 Prepaid rent Cread Office equipment Debid Credit No. No. Date Dec 31 Balance 925 Date Dec 31 Balance 9.500 Computer equipment Dobi Credit No. Acoumulated depreciation - Office equipment Date Debit Credit Balance Dec 31 480 No Date Dec 31 Balance 22 560 Acumulated depreciation - Computer equipment Date Debat Credit Balance Dec 31 Accounts payable Debit Credit No. No. Balance Date Dec 31 1 200 Wages payable Debat Credit No. Balance No. Date Dec 31 Unearned computer services revenue Date Debit Credit Balance Dec 31 1.600 640 M. Mong. Capital Credit ML. Meng, withdrawals Debit Credit No. Balance No. Date Dec 31 Date Dec 31 Balance 6800 74.000 No. No Computer services revenue Date Debit Credit Dec 31 Dec 31 18 919 Balance 32.400 13.451 Depreciation expense - Office equipment Date Dobil Credit Balance Dec 31 480 1 Was expense Credit No. Depreciation expense. Computer equipment Date Debat Credit Balance Dec 31 No Date Dec 31 Balance 4.960 Insurance expense Debat Craar Rent expense Debid Credit No. No. Date Dec 31 Balance 620 Date Dec 31 Balance 2.775 Computer supplies expense Dais Debat Credit Dec 31 Advertising expense Credit No. No. Balance 3.150 Date Dec 31 Balance 2.860 Miege expense Deba Credit Miscellanus expenses Debat Credit No. No Date Dec 31 Balance 934 Date Dec 31 Balance 270 No. Repairs expense - Computer Date Debat Credit Dec 31 Balance 1.410 You may view either the adjusted or post-closing trial balance by choosing from the drop-down box below. Your choice will determine the reported values on the financial statement tabs. Post-closing ONPOINT Trial Balance December 31, 2021 Account Title Credit $ + + Debit 46,008 4,400 880 1,880 925 9,600 480 22,580 1,4101 1,200 640 1,600 74,000 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation - Office equipment Computer equipment Accumulated depreciation - Computer equipment Accounts payable Wages payable Unearned computer services revenue M. Meng. Capital M. Meng. Withdrawals Computer services revenue Depreciation expense - Office equipment Depreciation expense - Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellanous expenses Repairs expense - Computer Total 6,800 13,481 480 1,410 4.980 620 2,775 3,150 2,880 984 270 1,410 111,730 5 $ 92,811 The December 31, 2021, adjusted trial balance OnPoint (reflecting its transactions from October through December of 2021) is fou on the trial balance tab. Record the closing entries for On Point Prepare the company's Income statement, balance sheet and post-closing trial balance for three months ended, or date of, December 31, 2021. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing Use the drop-downs to select the accounts properly included on the income statement. The adjusted, or post-closing balances will appear for each account, based on your selection. Dates: Dec 31 to: Dec 31 $ 13,481 Post-closing ONPOINT Income Statement For Three Months Ended December 31, 2021 Revenues: Computer services revenue 13,4811 0 Total revenues Expenses: Depreciation expense - Office equipment 480 Depreciation expense - Computer equipment 1,410 Wages expense 4.980 Insurance expense 620 Rent expense 2,775 Computer supplies expense 3,150 Advertising expense 2,880 Mileage expense 984 Miscellanous expenses 270 Repairs expense - Computer 1,410 0 2 2 2 Total expenses Net loss 18,919 (5,438) $ The adjusted or post-closing balances will appear for each item, based on your selection. (Selecting Post- Closing will only display ending capital.) Dates: Dec 31 to: Dec 31 Post-closing ONPOINT Statement of Owner's Equity For Three Months Ended December 31, 2021 M. Meng, Capital, October 1, 2021 Add: Investments by owner 74,000 $ 0 74,000 74,000 Less: Withdrawals by owner Net loss M. Meng, Capital, December 31, 2021 6,800 5,438 (12,238) 61,762 $ Post-closing Dates: Dec 31 ONPOINT Balance Sheet December 31, 2021 ASSETS Current assets: Cash Computer supplies Prepaid rent Prepaid insurance Accounts receivable OOOOO 48,008 880 925 1.880 4,400 0 $ 53,851 t sis 9,800 (480) 9,120 22,580 (1.410) Total Ourrent assets Plant assets: Office equipment Accumulated depreciation - Office equipment Office equipment, net Computer equipment Accumulated depreciation - Computer equipment Computer equipment, net Total plant assets Total assets LIABILITIES AND EQUITY Current liabilities: Accounts payable Wages payable Unearned computer services revenue 21,150 30,270 84, 121 s golo 1.200 640 1.600 0 $ 3,440 Total liabilities Equity M. Meng, Capital Total liabilities and equity > 61,762 65,202 $ Answer is not complete. General General Income Requirement St Owners Trial Balance Balance Sheet Post Closing Journal Ledger Statement Equity Begin by selecting "Post-closing" from the drop-down below. Then, for each account, use the drop-down to indicate whether the account is included on the post-closing trial balance. Based on your decisions, the post-closing trial balance will be created. Compare your results with the Trial Balance tab. Post-closing Dates: Dec 31 to: Dec 31 Included Post-closing Trial on Post- Type of Balance closing Account trial Account Dr. Cr. balance? Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation - Office equipment Computer equipment Accumulated depreciation - Computer equipment Accounts payable Wages payable Unearned computer services revenue M. Meng, Capital M. Meng. Withdrawals Computer services revenue Depreciation expense - Office equipment Depreciation expense - Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense - Computer Totals 0 $ 0