CENGAGE MINDTAP ACCOUNTING OWP: 1-2 End Of Lesson Review

2. 1-2 ON YOUR OWN, p. 17

Transactions
1. Received cash from owner as an investment.
2. Bought supplies on account.
3. Paid cash for supplies.
4. Paid cash for insurance.
5. Paid cash on account.

For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owners equity is increased. Enter a minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if necessary.

Answer is in the photo. I can't attach it here, but I've uploaded it to a file hosting. link below! Good Luck!

cutt.ly/Kzv78uJ

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explanation

the graph has a slope of 1/3 because each time you move up 1, you go to the right 3. so, slope = rise/run = 1/3. we can cross choice a off the list since we want a slope of 3, rather than 1/3.

the first table shown has a slope of -3. this is because the rise is -6 and the run is 2, so slope = rise/run = -6/2 = -3. note how x increases by 2 each time (run) and y drops by 6 each time (rise). choice b can be eliminated.

the second table has a slope of 3. each time x goes up by 1, the y values increase by 3. slope = rise/run = 3/1 = 3. alternatively you can use the slope formula to prove that the slope is 3 here. use any two rows of values to generate the two points. choice c is one of the answers

the third table also has a slope of 3. let's use the slope formula to prove as such. i'm going to use the first two rows of the table. so i'll use the two points (2,1) and (5,10)

m = slope

m = (y2-y1)/(x2-x1)

m = (10-1)/(5-2)

m = 9/3

m = 3 so we get a slope of 3

choice d is the other answer

4.08%

step-by-step explanation: