Journalize the transactions of lawrence engineering. include an explanation with each journal entry. use the following accounts: cash; accounts receivable; office supplies; equipment; accounts payable; notes payable; common stock: dividends; service revenue; and utilities expense.

jul. 2 received $14,000 contribution from brett lawrence in exchange for common stock.
4 paid utility expense of $370.
5 purchased equipment on account, $1,600.
10 performed services for a client on account, $2,900.
12 borowed $7,100 cash, signing a note payable.
19 cash dividends of $200 were paid to stockholders.
21 purchased office supplies for $840 and paid cash.
27 paid the liability from july 5.

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

From what part of income should someone take savings?