Absolute beginner with some basic IT knowledge

Hello everybody!

I have just dived nose first into using a hosted wordpress website and am having about a zillion issues with it. If anybody is willing to teach me how to fish and feed me for lifetime ?? any guidance is more than appreciated. These are the stats:

1. I have Asmallorange.com “tiny” package; more than enough for me
2. Theme I bought is Lens from Themeforest
3. My domain is https://allsquat.com (to be changed later, this is just one I had lying around unused)

When installing wordpress from within cPanel, I chose to do it in a folder other than the root and I named it WordPress. After doing so, I learned how to use an ftp client called Cyberduck and I uploaded and installed my theme (Lens). Now, my folder structure looks like this:

https://imageshack.us/photo/my-images/543/3x2c.png
https://img543.imageshack.us/img543/1218/3x2c.png

It seems that thee are two WordPress folders/installations? One in public_html and another one in a folder called www.

Secondly, I have no idea on how to set up the redirects neccessary for my site to work properly, caused by this installation into a separate folder). I read the tutorial (www.remarpro.com text) and I tried copying index.php from public_html/wordpress to public_html (is that the root?) and I didnt do anything with the .htaccess file simply because there was none.

Right now my site is showing some errors and no homepage. What am I doing wrong and how can I correct this?

Many thanks!
Alex