I am having trouble figuring this problem out in QuickBooks. I have uploaded pictures with the account names to pick from and the problem.

Accounting Accounting 760 Interest Payable Other Expense Other Miscelismeo 130 130 inventory Asset Other Cumront Assets Inventory 620620 Lobor Costs Expenses Payroll Experises 625625 Consact Labor Expenses Cost of Labor Accounting Accounting Accounting Accounting Chart of accounts Reconcile Accounting You make adjusting journal entries for the month of January as needed. (Start with Journal no. Jan23.1.) You carefully consider the following: - Math Revealed! used the straight-line method to determine depreciation expense for all fixed assets. - Monthly depreciation expense for the equipment purchased prior to 12/31 is $92.50. (Computer \$75; Printer \$10; Calculators \$7.50) Math Revealed! purchased $726 of furniture on 1/2. You expect the furniture to last 4 years, with a $150 salvage value. You take a full month depreciation on the furniture. Two computers ($1,260) and three calculators ($441) were also purchased on 1/2. You expect the computers to have a 3-year life (no salvage value) and the calculators to have a 3-year life (\$63 salvage value). You take a full month depreciation on the equipment. On 1/30, shelving was installed. The cost of the shelving was $820. You expect the shelving to last for the term of the lease ( 24 months). You estimate the salvage value at $100 at the end of the 2 years. You started using the shelving on February 1 . - You check the supplies on hand. You estimate that \$120 of supplies were used during January. - You charge the amount to a new account (Tutoring-supplies expense, a sub-account of Office and Tutoring Costs). You use 632 as the account number and Other Business - The insurance policy premium paid in January was $360. The policy term is 1/112/31/22 - You check to make sure that all the revenue recorded in January was earned during the month. - You realize that the $3,000 paid by Teacher's College on 1/27 (INV-1011) was for a workshop to be held in February. - You ask Martin about the Marley's two weeks of Persistence sessions paid for on 1/20 (SR-104). Martin says she actually finished all the sessions by the end of January. You also take a look at INV-1009 to Annie Wang. Martin says half of the $400 billed on 1/13 was for February tutoring. - TIP: Consider whether you need a new account here. Choose an account number that fits with the account numbering scheme (assets are 100 s; liabilities are 200 s; revenues are 400 s; expenses are 600s ). - Martin has agreed to pay his father interest on the $2,500 loan to help get the business started. The last payment was made on 12/31/22. The annual interest rate (simple interest) on the loan is 6%. You forgot to pay him in January. You call and let him know that the check will come in February. TIP: Just because you didn't pay it in January doesn't mean you don't owe it in January. Consider whether you need a new account here. Check numbers as of 1/31 Checking account balance: $4,002.93 Total assets: .$14,166.00 Total current liabilities:..$ 5,976.07 Net income (January only): \$ 1,579.93 TIP: If you are having a hard time getting to these check numbers, try some of the hints for finding errors and getting it right in Appendix 5A. Suggested reports for Chapter 5 : All reports should be in portrait orientation. - Journal-1/31 transactions only - Balance Sheet (as of 1/31) - Profit and loss statement (January) Accounting Accounting 760 Interest Payable Other Expense Other Miscelismeo 130 130 inventory Asset Other Cumront Assets Inventory 620620 Lobor Costs Expenses Payroll Experises 625625 Consact Labor Expenses Cost of Labor Accounting Accounting Accounting Accounting Chart of accounts Reconcile Accounting You make adjusting journal entries for the month of January as needed. (Start with Journal no. Jan23.1.) You carefully consider the following: - Math Revealed! used the straight-line method to determine depreciation expense for all fixed assets. - Monthly depreciation expense for the equipment purchased prior to 12/31 is $92.50. (Computer \$75; Printer \$10; Calculators \$7.50) Math Revealed! purchased $726 of furniture on 1/2. You expect the furniture to last 4 years, with a $150 salvage value. You take a full month depreciation on the furniture. Two computers ($1,260) and three calculators ($441) were also purchased on 1/2. You expect the computers to have a 3-year life (no salvage value) and the calculators to have a 3-year life (\$63 salvage value). You take a full month depreciation on the equipment. On 1/30, shelving was installed. The cost of the shelving was $820. You expect the shelving to last for the term of the lease ( 24 months). You estimate the salvage value at $100 at the end of the 2 years. You started using the shelving on February 1 . - You check the supplies on hand. You estimate that \$120 of supplies were used during January. - You charge the amount to a new account (Tutoring-supplies expense, a sub-account of Office and Tutoring Costs). You use 632 as the account number and Other Business - The insurance policy premium paid in January was $360. The policy term is 1/112/31/22 - You check to make sure that all the revenue recorded in January was earned during the month. - You realize that the $3,000 paid by Teacher's College on 1/27 (INV-1011) was for a workshop to be held in February. - You ask Martin about the Marley's two weeks of Persistence sessions paid for on 1/20 (SR-104). Martin says she actually finished all the sessions by the end of January. You also take a look at INV-1009 to Annie Wang. Martin says half of the $400 billed on 1/13 was for February tutoring. - TIP: Consider whether you need a new account here. Choose an account number that fits with the account numbering scheme (assets are 100 s; liabilities are 200 s; revenues are 400 s; expenses are 600s ). - Martin has agreed to pay his father interest on the $2,500 loan to help get the business started. The last payment was made on 12/31/22. The annual interest rate (simple interest) on the loan is 6%. You forgot to pay him in January. You call and let him know that the check will come in February. TIP: Just because you didn't pay it in January doesn't mean you don't owe it in January. Consider whether you need a new account here. Check numbers as of 1/31 Checking account balance: $4,002.93 Total assets: .$14,166.00 Total current liabilities:..$ 5,976.07 Net income (January only): \$ 1,579.93 TIP: If you are having a hard time getting to these check numbers, try some of the hints for finding errors and getting it right in Appendix 5A. Suggested reports for Chapter 5 : All reports should be in portrait orientation. - Journal-1/31 transactions only - Balance Sheet (as of 1/31) - Profit and loss statement (January)