Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 3

These partially completed Income Statement columns from a 10-column work sheet are for Brown's Bike Rental Company. (1) Use the information to 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.