Nancy Tercek started a delivery service, Marigold Corp., on June 1, 2019. The following transactions occurred during the month of June. June 1 Stockholders invested $17,800 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries for $15,000. Nancy paid $3,500 cash and signed a note payable for the remaining balance. 3 Paid $600 for office rent for the month. 5 Performed $4,700 of services on account. 9 Declared and paid $300 in cash dividends. 12 Purchased supplies for $100 on account. 15 Received a cash payment of $1,100 for services performed on June 5. 17 Purchased gasoline for $300 on account. 20 Received $1,600 cash for services performed. 23 Made a cash payment of $500 on the note payable. 26 Paid $300 for utilities. 29 Paid for the gasoline purchased on account on June 17. 30 Paid $1,190 for employee salaries. Prepare an income statement for the month of June.

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.