Question: These Income Statement columns from a 10-column work sheet are for Brown's Bike Rental Company Debit Credit 126,000 Account Title Rent earned Salaries expense Insurance



These Income Statement columns from a 10-column work sheet are for Brown's Bike Rental Company Debit Credit 126,000 Account Title Rent earned Salaries expense Insurance expense Office supplies expense Bike repair expense Depreciation expense-Bikes 55,944 7.938 18,522 3,906 24,066 (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 > A B C Record the entry to close revenue accounts. Note: Enter debits before credits Transaction General Journal Debit Credit Journal entry worksheet Record the entry to close expense accounts. Note: Enter debits before credits Transaction General Journal Debit Credit TD W Journal entry worksheet
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