The Following Information Is Available for Brendon Company Before Closing

question 219

Multiple Choice

The following information is available for Brendon Company before closing the accounts.What will be the amount in the Income Summary account that should be closed to Retained earnings?
$$\begin{array} { l r } \text { Retained earnings } & \$ 112,000 \\\text { Dividends } & 32,000 \\\text { Fees earned } & 187,000 \\\text { Depreciation Expense-Equipment } & 12,000 \\\text { Wages expense } & 71,400 \\\text { Interest expense } & 3,300 \\\text { Insurarnce expense } & 11,700 \\\text { Rent expense } & 24,200\end{array}$$

• A) $80,000.
• B) $64,400.
• C) $43,000.
• D) $32,400.
• E) $42,400.

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