The November 30, 2018, unadjusted trial balance of On Point is found in the Trial balance tab. OnPoint had the following transactions and events in December 2018. Dec. Dec. Dec. Dec Dec. Dec Dec. Dec. Dec. 2 Paid $1,090 cash to Cayuga Mall for OnPoint' share of mall advertising costs. 3 Paid $540 cash for minor repairs to the company's computer. 4 Received $5,200 cash from Kuhl Engineering Co. for the receivable from November. 10 Paid cash to Marion Meng for six days of work at the rate of $160 per day. 14 Notified by Kuhl Engineering Co. that onPoint' bid of $7,200 on a proposed project has been accepted. Kuhl paid a $1,600 cash advance to On Point. 15 Purchased $1,200 of computer supplies on credit from Brady Office Products. 16 Sent a reminder to Ryan Co. to pay the fee for services recorded on November 8. 20 Completed a project for Kennedy Corporation and received $5,800 cash. 22- took the week off for the holidays. 26 28 Received $3,400 cash from Ryan Co. on its receivable. 29 Reimbursed M. Meng for business automobile mileage (700 miles at $0.32 per mile). 31 The company paid $1,700 cash in dividends. Dec. Dec. Dec. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: a. The December 31 inventory count of computer supplies shows $660 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Marion Meng has not been paid for four days of work at $160 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent has expired. General Requirement General Journal Trial Balance Income Statement Ledger St Retained Earnings Balance Sheet Impact on Income Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. Show less A Adjusted ONPOINT Balance Sheet December 31, 2019 ASSETS Current assets Cash $ Computer supplies Prepaid insurance 46,006 1,950 2,480 0 0 0 $ 50,436 Total current assets Plant assets Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Adjusted ONPOINT Income Statement For Three Months Ended December 31, 2019 Revenues: Computer services revenue 32,400 0 $ $ 32,400 Total revenues Expenses: Repairs expense - Computer Miscellanous expenses Mileage expense Advertising expense Computer supplies expense Rent expense Insurance expense 1,410 270 984 2,860 1,860 0 0 Income General Journal Requirement General Ledger St Retained Balance Sheet Trial Balance Statement Earnings Impact on Income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Show less Adjusted Impact on net income Adjusting entry related to: a) Computer supplies b) Prepaid insurance $ 660 2,480 c) Accrued wages Account affecting the: Income Statement Balance Sheet Computer supplies expense Computer supplies Insurance expense Prepaid insurance Wages expense Wages payable Depreciation expense- Accumulated depreciation - Computer equipment Computer equipment Depreciation expense - Office Accumulated depreciation - equipment Office equipment Rent expense Prepaid rent 4,320 d) Depreciation - Computer equipment e) Depreciation - Office equipment f) Prepaid rent Trial Balance December 31, 2019 Account Title Debit Credit $ 46,006 4,400 3,810 2.480 3,700 9.600 22.560 1,200 1.600 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Computer equipment Accounts payable Unearned computer services revenue Common stock Dividends Computer services revenue Wages expense Advertising expense Mileage expense Miscellanous expenses Repairs expense - Computer Total 74,000 6,800 32,400 4,320 2,860 984 270 1,410 $ 109,200 $ 109,200 General General Income Requirement St Retained Trial Balance Impact on Balance Sheet Journal Ledger Statement Earnings Income Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. Adjusted General Ledger Account