Data for the unadjusted trial balance of Mexican Riviera Tanning Salon

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E4-12 Preparing a worksheet [30-40 min]
Data for the unadjusted trial balance of Mexican Riviera Tanning Salon at March 31, 2012, follow.

Cash $ 13,000
Equipment 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.
Service revenue Salary expense Depreciation expense Supplies expense Neeland, drawing
$ 89,900 42,200

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.