Help With quickbooks assignment? For the month of january we are supposed to prepare a trial balance for the month end, Please refer to the uploaded Excel Document for the proper entries and the proper balances, However, all the entries I have done screws up the balances. What am I doing wrong and what do I need to change?

Quickbooks Case for Intermediate II 1-Jan 2-Jan 2-Jan 3-Jan 4-Jan 7-Jan 8-Jan 9-Jan 12-Jan 17-Jan 19-Jan 26-Jan 26-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan Began business by depositing $6,000 in a bank account in the name of the company in exchange for 6,000 shares of $1 par value common stock. Ordered supplies, $750. Borrowed $9,000 from the bank that is due in 2 years at 10% Purchased equipment for cash, $3,000. Made two months' rent payment on the store, $1,500. Received supplies ordered on January 2 and agreed to pay half of the amount in 10 days and the rest in 30 days. Purchased merchandise inventory on account, $6,500. Paid for advertising to announce the grand opening, $700. Grand opening Paid half the amount owed on the supplies purchased on Jan. 7. Weekly sales of $2,700, merchandise costing $1,800, half cash and half on account. Received payment on account, $600 Weekly cash sales of $4,200, merchandise costing $2,800. Received utility bill for January, $250 One month's rent expired Accrued one month's interest, $75. Depreciation expense for the month is $50 The income tax rate is 30% PART 3 - Submit Trial Balance as of Jan 31 3-Feb 6-Feb 10-Feb 15-Feb 20-Feb 25-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb Purchased merchandise inventory on account, $2,000. Paid balance owed for supplies purchased on Jan 7. Weekly cash sales totaling $4,500, merchandise costing $3,000. Paid utility bill for January Received payment on account, $600. Paid for merchandise purchased on Feb 3. Received utility bill for February, $350. One month's rent expired Inventory of supplies on hand shows that $275 of supplies till on hand. Accrued one month's interest, $75. Depreciation expense for the month is $50 The income tax rate is 30% PART 4 - Submit Trial Balance as of Feb 28 PART 5A - Submit financial statements for January 1 - February 28 28-Feb Prepare closing entries PART 5B - Submit Trial Balance as of Feb 28 You will have to make sure that your chart of accounts contains the following accounts: Cash Accounts Receivable - classify as other current asset Prepaid Rent Supplies Merchandise Inventory Equipment Equipment - Accum Depr Accounts Payable - classify as other current liability Interest Payable Income Taxes Payable Notes Payable - classify as long term liability Common Stock Income Summary Retained Earnings Sales Cost of Goods Sold Advertising Expense Depreciation Expense Income Taxes Expense Interest Expense Rent Expense Supplies Expense Utility Expense cash merch inv COGS n/p 6,000 6,500 1,800 9,000 9,000 (1,800) 2,800 (3,000) (2,800) 4,600 (1,500) (700) 1,900 inc tax (375) 150 1,350 equip Adv exp 600 3,000 700 4,225 150 a/p 15,600 750 6,500 (375) 250 a/r utility exp inc tax pay 250 150 250 150 rent exp 750 1,350 (600) 750 750 ppd rent 1,500 (750) 7,125 int pay 75 January cash a/r ppd rent supp merch inv equip acc depr 15,600 750 750 750 1,900 3,000 (50) a/p int pay inc tax pay n/p c.stock r.e. 50 6,000 350 6,350 22,700 sales cogs gross margin exp adv utility rent supp int exp depr exp tot exp 22,700 6,925 4,600 2,325 700 250 750 0 75 50 1,825 ibit 500 income tax 150 net income 350 supplies exp 75 c. stock 750 6,000 int exp supplies 75 750 sales 2,700 75 4,225 750 6,925 depr exp 50 acc depr 50 50 7,125 75 150 9,000 oct 500 @ 30% = 150 0 0 cash merch inv COGS n/p 15,600 1,900 4,600 9,000 (375) 2,000 3,000 4,500 (3,000) 7,600 (250) 600 900 inc tax (2,000) 150 equip Adv exp (60) 3,000 700 90 a/p 18,075 a/r 750 (600) utility exp inc tax pay 7,125 250 150 2,000 350 (60) (375) 600 (250) 90 (2,000) rent exp 350 750 750 1,500 150 6,850 int pay ppd rent 75 750 75 supplies exp (750) 150 475 c. stock 0 6,000 int exp supplies 75 750 sales 75 (475) 6,925 150 4,500 275 11,425 depr exp 50 acc depr 50 50 50 100 100 February cash a/r ppd rent supp merch inv equip acc depr 18,075 150 0 275 900 3,000 (100) a/p int pay inc tax pay n/p c.stock r.e. 6,850 150 90 9,000 6,000 210 6,210 22,300 sales cogs gross margin exp adv utility rent supp int exp depr exp tot exp 22,300 11,425 7,600 3,825 700 600 1,500 475 150 100 ibit 3,525 300 income tax 90 net income 210 nov 300 @ 30% = 90 0 0 Zachary Day 2:38 PM Trial Balance 03/28/15 Accrual Basis As of January 31, 2015 Jan 31, 15 Debit Cash Accounts Receivable Merchanidising Inventory Prepaid Rent Supplies Equipment Equipment- Accum Depr Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Sales Cost of Goods Sold Advertising Expense Depreciation Expense Interest Expense Rent Expense Utilities Expense Income Tax Expense TOTAL Credit 15,600.00 750.00 1,900.00 750.00 750.00 3,000.00 50.00 7,125.00 150.00 75.00 9,000.00 6,000.00 6,925.00 4,600.00 700.00 50.00 75.00 750.00 250.00 150.00 29,325.00 29,325.00 Page 1