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These Income Statement columns from a 10-column work sheet are for Brown's Bike Rental Company. Account Title Rent earned Debit Credit 113,000 Salaries expense 50,172
These Income Statement columns from a 10-column work sheet are for Brown's Bike Rental Company. Account Title Rent earned Debit Credit 113,000 Salaries expense 50,172 Insurance expense 7,119 Office supplies expense 16,611 Bike repair expense 3,503 Depreciation expense-Bikes 21,583 (1) Determine the amount that should be entered on the net income line of the work sheet. (2) Prepare the company's closing entries. The owner, H. Brown, did not make any withdrawals this period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount that should be entered on the net income line of the work sheet. Required 2> Required 1 Required 2 Prepare the company's closing entries. The owner, H. Brown, did not make any withdrawals this period. View transaction list Journal entry worksheet < A B C Record the entry to close revenue accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal > Required 1 Required 2 repare the company's closing entries. The owner, H. Brown, did not make any withdrawals this period. View transaction list Journal entry worksheet < A B C Record the entry to close expense accounts. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Journal entry worksheet < A B C Record the entry to close income summary account. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit Record entry Clear entry View general journal
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