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3. (25 POINTS) Below is an Adjusted Trial Balance for Fairfield Law Firm, LLP. On the blank pages provided, please prepare the following financial statements:
3. (25 POINTS) Below is an Adjusted Trial Balance for Fairfield Law Firm, LLP. On the blank pages provided, please prepare the following financial statements: a) Income Statement b) Statement of Owner's Equity c) Balance Sheet Please include the proper headings. S signs and Underlines for full score, please prepare them on the blank paper Fairfield Law Firm LLP Adjusted Trial Balance For the 12-Months Ended July 31, 2019 Debit 94,100 13,000 1,700 5,500 1,100 22,000 40,000 General Ledger Account 100-Cash 102-Accounts Receivable 103-Inventory 104-Supplies 105-Prepaid Insurance 106-Prepaid Rent 110-Equipment 111-Accumulated Depreciation 200-Accounts Payable 201-Notes Payable 203-Unearned Revenue 204-Salary & Wage Payable 205-Interest Payable 300-Owner's Capital 301-Owner's Drawings 400-Service Revenue 510-Salary & Wage Expense 550-Utilities Expense 601-Rent Expense 611-Insurance Expense 612-Supplies Expense 650-Depreciation Expense 750-Telephone Expense 780-Interest Expense 1,700 2,850 36,000 35,000 3,300 300 55,000 15,000 75,500 7,300 5,900 2,000 100 1,200 200 250 300 209,650 $ 209,650
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