Note:

Please find correct value of computer supplies in General Journal, rest of the journal is all correct.

And although i have completed but please have a look at income statement and balance sheet.

The November 30, 2018, unadjusted trial balance of OnPoint is found in the Trial balance tab. OnPoint had the following transactions and events in December 2018. Dec 2 Paid $1,090 cash to Cayuga Mall for On Point' share of mall advertising costs. Dec 3 Paid $540 cash for minor repairs to the company's computer. Dec. 4 Received $5,200 cash from Kuhl Engineering Co. for the receivable from November. Dec 10 Paid cash to Marion Meng for six days of work at the rate of $160 per day. Dec. 14 Notified by Kuhl Engineering Co. that OnPoint' bid of 57,200 on a proposed project has been accepted. Kuhl paid a $1,600 cash advance to On Point Dec 15 Purchased $1,200 of computer supplies on credit from Brady Office Products Dec. 16 Sent a reminder to Ryan Co to pay the fee for services recorded on November 8 Dec 20 Completed a project for Kennedy Corporation and received $5,800 cash. Dec. 22-26 Took the week off for the holidays. Dec 28 Received $3,400 cash from Ryan Co. on its receivable. Dec 29 Reimbursed M. Meng for business automobile mileage (700 miles at $0.32 per mile). Dec. 31 The company paid $1,700 cash in dividends. 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. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income General Journ tab - Prepare journal for of the December transactions. Then, using information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. 7 Dec 16 No journal entry required 8 Dec 20 5.800 Cash Computer services revenue 5,800 9 Dec 28 3,400 Cash Accounts receivable 3,400 10 Dec 29 224 Mileage expense Cash 224 11 Dec 31 1,700 Dividends Cash 1,700 12 Dec 31 4,050 Computer supplies expense Computer supplies 4,050 13 Dec 31 620 Insurance expense Prepaid insurance 620 14 Dec 31 640 Wages expense Wages payable 640 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. 64.800 tt Adjusted ONPOINT Income Statement For Three Months Ended December 31, 2019 Revenues: Computer services revenue $ 32,400 Computer services revenue 32,400 Total revenues Expenses: Depreciation expense - Office equipment 480 Depreciation expense - Computer equipment 1,410 Wages expense 4.960 Insurance expense 620 Rent expense 2,775 Computer supplies expense 4,050 Advertising expense 2.860 Mileage expense 984 Miscellanous expenses 270 Repairs expense - Computer 1,410 0 Total expenses Net income 1 11 19,819 44,981 $ ONPOINT Balance Sheet December 31, 2019 ASSETS Current assets Cash S Accounts receivable Computer supplies Prepaid insurance Prepaid rent ttttt 48,000 4,400 (240) 1,860 925 0 S 52.951 t 9,600 (480) Total current assets Plant assets: Office equipment Accumulated depreciation - Office equipment Office equipment, net Computer equipment Accumulated depreciation - Computer equipment Computer equipment, net Total plant assets 9,120 22.560 (1.410) 21,150 30.270 83,221 Total assets S LIABILITIES AND EQUITY S 1,200 Liabilities: Accounts payable Wages payable Unearned computer services revenue 640 1,800 0 3,440 74,000 Total liabilities Equity: Common stock Retained earnings Total equity Total liabilities and equity 38,181 112,181 115,621 $ Trial Balance December 31, 2019 Account Title Credit Debit 46,006 4.400 3,810 2.480 3,700 9,600 22.560 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 1,200 1.600 74,000 6,800 32,400 4,320 2.860 984 270 1,410 109,200 $ S 109,200 The November 30, 2018, unadjusted trial balance of OnPoint is found in the Trial balance tab. OnPoint had the following transactions and events in December 2018. Dec 2 Paid $1,090 cash to Cayuga Mall for On Point' share of mall advertising costs. Dec 3 Paid $540 cash for minor repairs to the company's computer. Dec. 4 Received $5,200 cash from Kuhl Engineering Co. for the receivable from November. Dec 10 Paid cash to Marion Meng for six days of work at the rate of $160 per day. Dec. 14 Notified by Kuhl Engineering Co. that OnPoint' bid of 57,200 on a proposed project has been accepted. Kuhl paid a $1,600 cash advance to On Point Dec 15 Purchased $1,200 of computer supplies on credit from Brady Office Products Dec. 16 Sent a reminder to Ryan Co to pay the fee for services recorded on November 8 Dec 20 Completed a project for Kennedy Corporation and received $5,800 cash. Dec. 22-26 Took the week off for the holidays. Dec 28 Received $3,400 cash from Ryan Co. on its receivable. Dec 29 Reimbursed M. Meng for business automobile mileage (700 miles at $0.32 per mile). Dec. 31 The company paid $1,700 cash in dividends. 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. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income General Journ tab - Prepare journal for of the December transactions. Then, using information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. 7 Dec 16 No journal entry required 8 Dec 20 5.800 Cash Computer services revenue 5,800 9 Dec 28 3,400 Cash Accounts receivable 3,400 10 Dec 29 224 Mileage expense Cash 224 11 Dec 31 1,700 Dividends Cash 1,700 12 Dec 31 4,050 Computer supplies expense Computer supplies 4,050 13 Dec 31 620 Insurance expense Prepaid insurance 620 14 Dec 31 640 Wages expense Wages payable 640 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. 64.800 tt Adjusted ONPOINT Income Statement For Three Months Ended December 31, 2019 Revenues: Computer services revenue $ 32,400 Computer services revenue 32,400 Total revenues Expenses: Depreciation expense - Office equipment 480 Depreciation expense - Computer equipment 1,410 Wages expense 4.960 Insurance expense 620 Rent expense 2,775 Computer supplies expense 4,050 Advertising expense 2.860 Mileage expense 984 Miscellanous expenses 270 Repairs expense - Computer 1,410 0 Total expenses Net income 1 11 19,819 44,981 $ ONPOINT Balance Sheet December 31, 2019 ASSETS Current assets Cash S Accounts receivable Computer supplies Prepaid insurance Prepaid rent ttttt 48,000 4,400 (240) 1,860 925 0 S 52.951 t 9,600 (480) Total current assets Plant assets: Office equipment Accumulated depreciation - Office equipment Office equipment, net Computer equipment Accumulated depreciation - Computer equipment Computer equipment, net Total plant assets 9,120 22.560 (1.410) 21,150 30.270 83,221 Total assets S LIABILITIES AND EQUITY S 1,200 Liabilities: Accounts payable Wages payable Unearned computer services revenue 640 1,800 0 3,440 74,000 Total liabilities Equity: Common stock Retained earnings Total equity Total liabilities and equity 38,181 112,181 115,621 $ Trial Balance December 31, 2019 Account Title Credit Debit 46,006 4.400 3,810 2.480 3,700 9,600 22.560 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 1,200 1.600 74,000 6,800 32,400 4,320 2.860 984 270 1,410 109,200 $ S 109,200