Problem Statement 'fou have been hired to set up Paula's Portraits as a Quickbooks company file and process the business's activity for March 1 to March 12. Required 1. Clpen a new company file. Use the Express Start option to begin entering the company information as provided above. {Enter the Company Name as Paula's Portraits Ir'our Name] Choose Art. writing or photography as the Industry. Enter Contact Information as provided above. Using the preferences section make the appropriate changes to the following screens: a. ESTIHST Remember, Paula is register Jfor GSTIHST. She will generally pay HST Taxes on purchases and will charge EST only on Services provided to customers. Jobs and estimates Paula will not use Jobs or Estimates. Sales and Customers Paula will not use Sales Clrders. Time Tracking Paula wili not use Time Tracking. sue-e? Accounting Turn off the I|Il'v'arn iftransactions are in the past as well as the Warn if transactions are in the future Add the following accounts to the chart of Accounts a. Chequing, Venture Bank Type Bank b P Pollack, Capital Type- Equity c. P Pollack, Withdrawals TypeEquity d. Photographic equipment Type Fixed Asset e Photographic Supplies Type-ExpenseISub Account - Office supplies] f. Vehicle Expense TypeExpense g. Vehicle Insurance TypeExpense [ Sub Account Insurance Expense] h. Equipment Insurance TypeExpense [Sub Account Insurance Expense} Edit the following accounts: a. Change 'Photo and Video services Income\" to 'Portrait Fee Income' Add the following service items to the Customers Items List: a. Basic Portrait Package $25.00 Plus EST b. Supersaver Portrait Package SAUCE Plus l[SST Process the transactions JFor the period of March 1 to March 11 as found on the following page. Note: Add customers and Vendors, as needed using Quick Add while completing transactions