Interest on Craig’s Notes Payable has been incurred, but not recorded or paid. The interest that has been incurred is calculated as principal multiplied by the interest rate multiplied by the time period ($8,000 x 10% x 1/12 = $66.66). Interest Expense of $66.66 must be recorded as an accrued expense and Interest Payable, a liability, recorded for the amount that Craig is obligated to pay later. So an adjusting entry is needed to bring accounts up to date at December 31.

Alarge university wanted to study the relationship between completing an internship during college and students' future earning potential. prom the same graduating class, they selected a random sample of 80 students who completed an internship and 100 students who did not complete an internship and examined their salaries five years after graduation. they found that there was a statistically higher mean salary for the internship group than for the noninternship group. which of the following interpretations is the most appropriate? a. there could be a confounding variable, such as student major, that explains the difference in mean salary between the internship and no internship groups. b. we cannot infer anything from these data since the distribution of salaries is likely right skewed. c. you cannot draw any valid conclusions because the sample sizes are different. d. more students should complete internships because having an internship produces a higher salary.

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate

Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be