During the month of December 2019, Moe's Mowing, Inc. incurred the following transactions.1. Record the business transactions in the respective T-accounts.a) To begin operations, the owner deposited $15,000 cash in the business's bank account. The business received the cash and issued shares to the owner.Blank 1 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be debited by $15,000Blank 2 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be credited by $15,000.b) The business paid $750 cash in utilities expense.Blank 3 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be debited by $750Blank 4 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be credited by $750.c) The business purchased equipment for $2,150 on account payable.Blank 5 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be debited by $2,150Blank 6 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be credited by $2,150.d) The business provided $3,100 of services to a customer on account receivable.Blank 7 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be debited by $3,100Blank 8 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be credited by $3,100.e) The business purchased supplies inventory for $600 cash.Blank 9 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be debited by $600Blank 10 Question 13[select: , Cash, Accounts receivable, Supplies inventory, Equipment, Accounts payable, Shares capital, Utilities expense, Services revenue] account should be credited by $600.2. The balance of the Cash account on December 31, 2019, is Blank 11 Question 13[select: , Debit by $15,000, Debit by $14,600, Debit by $13,650, Debit by $11,500, Credit by $9,000] .

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Step-by-Step Analysis

To approach this problem, I will walk through each transaction and identify the correct debit and credit entries, naming the specific accounts involved. a) Beginning operations with cash deposited by the owner and shares issued: - Debit the Cash account increases assets from the business receiving cash. - Credit Shares capital increases the owner’s equity (capital contributed). - Therefore Blank 1 should be Cash (debit $15,000) and Blank 2 should be Shares capital (credit $15,000). b) Paying utilities expense in cash: - Utilities expense is an expense, which increases on the debit side. - Cash is an asset, and paying cash decreases it, so......Login to view full explanation

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