Data for the unadjusted trial balance of Mexican Riviera Tanning Salon at March 31, 2012, follow.
Cash 13,000
Equiptment 66,500
Accumulated Depreciation 18,500
Accounts Payable 3,200
Supplies 1,400
Neeland, capital 11,500
Service Revenue 89, 900
Salary Expense 42,200
Depreciation Expense
Supplies Expense
Neeland, drawing
Adjusting data for March 2012 are:
a) Accrued Service Revenue, 2,600
b) Supplies used in operations, 400
c) Accrued Salary Expense, 1,700
d) Depreciation Expense, 4,100
Les Neeland, the owner, has received an offer to sell the company. He needs to know the net income for the month covered by these data.
Requirements:
1. Prepare the worksheet for Mexican Riviera Tanning Salon
2. How much was the net income/net loss for March