Mamthly Transactions, Adjuetments, and Financial Statemests tansactions are entered iate during the month of lanuery? house. The owners estimate that the houpe wil have an estimatnd useful lie of 25 years and an estimated salvage vaiue of 55,000. aandary 5: 4 24-month property insurance policy as perchased for 56,000 in cash. January 71 Ciearing nueplies are purchesed on account for 3950 . The bil is parabin withih 30 exp. zandary 15: Wases of 14,230 for the first hal of the month are paid in cash. January 31 i. Cash incelpts from rencais of rooms for the month amount to s8,300 : Janwary J1: Cast receipts from operason of the festaurant for the month ameuet to $5,500. lenuary 31: Fach atockholder is paid 8200 in cash dridends. Assure a 360 -day year. When required, co not rourd your intemeocote calculations and round you final answers to the neareat whoie deilar. Reguired! a. Depreciation of the house. Dee straght Ene method of depreciation. Activity Accounts Accumwiated. Degreeietion-kouse increase, Depreciation Fxyense-htouan Increase = 5 tatemere(s) Balance sheet and Income Statement ov 4a. Prepare an income statement for the month ended January 31,2017. 4b. Prepare a statement of retained earnings for the month ended January 31, 2017. If an amount is zero, enter "0 feedines. F Check Uy Work incortect 4c. Prepare a balance sheet at Jamuary 31, 2017. Chaok My Work 1) List all current assets ithree) under Current Asset column. Total Current Assets. Week 2 Assighine-t Trionition Fatali mare Brabilir wark . Mamthly Transactions, Adjuetments, and Financial Statemests tansactions are entered iate during the month of lanuery? house. The owners estimate that the houpe wil have an estimatnd useful lie of 25 years and an estimated salvage vaiue of 55,000. aandary 5: 4 24-month property insurance policy as perchased for 56,000 in cash. January 71 Ciearing nueplies are purchesed on account for 3950 . The bil is parabin withih 30 exp. zandary 15: Wases of 14,230 for the first hal of the month are paid in cash. January 31 i. Cash incelpts from rencais of rooms for the month amount to s8,300 : Janwary J1: Cast receipts from operason of the festaurant for the month ameuet to $5,500. lenuary 31: Fach atockholder is paid 8200 in cash dridends. Assure a 360 -day year. When required, co not rourd your intemeocote calculations and round you final answers to the neareat whoie deilar. Reguired! a. Depreciation of the house. Dee straght Ene method of depreciation. Activity Accounts Accumwiated. Degreeietion-kouse increase, Depreciation Fxyense-htouan Increase = 5 tatemere(s) Balance sheet and Income Statement ov 4a. Prepare an income statement for the month ended January 31,2017. 4b. Prepare a statement of retained earnings for the month ended January 31, 2017. If an amount is zero, enter "0 feedines. F Check Uy Work incortect 4c. Prepare a balance sheet at Jamuary 31, 2017. Chaok My Work 1) List all current assets ithree) under Current Asset column. Total Current Assets. Week 2 Assighine-t Trionition Fatali mare Brabilir wark