【正文】 169。 The McGrawHill Companies, Inc., 2022 McGrawHill/Irwin Chapter Two Accounting for Accruals 22 Accrual Accounting Virtually all of the major panies operating in the United States use accrual accounting. Let’s demonstrate accrual accounting by describing seven events that relate to a pany named Conner Consultants. 23 LO 1 Record basic accrual events in a horizontal financial statements model. 24 Event 1: Conner Consultants was started on January 1, 2022, when it acquired $5,000 cash by issuing mon stock. 1. Increase assets (cash). 2. Increase stockholders’ equity (mon stock). Asset Source Transaction = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e 5 , 0 0 0 + n / a = n / a + 5 , 0 0 0 + n / a n / a n / a = n / a 5 , 0 0 0 FAA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 25 Event 2: During 2022, Conner Consultants provided $84,000 of consulting services to its clients but no cash has been collected. 1. Increase assets (accounts receivable). 2. Increase stockholders’ equity (retained earnings). Asset Source Transaction = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e n / a + 8 4 , 0 0 0 = n / a + n / a + 8 4 , 0 0 0 8 4 , 0 0 0 n / a = 8 4 , 0 0 0 n / aA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 26 Event 3: Conner collected $60,000 cash from customers in partial settlement of its accounts receivable. 1. Increase assets (cash). 2. Decrease assets (accounts receivable). Asset Exchange Transaction = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e 6 0 , 0 0 0 + ( 6 0 , 0 0 0 ) = n / a + n / a + n / a n / a n / a = n / a 6 0 , 0 0 0 OAA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 27 Event 4: The instructor earned a salary of $16,000. No cash has yet been paid to the employee. 1. Increase liabilities (salaries payable). 2. Decrease stockholders’ equity (retained earnings). Claims Exchange Transaction = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e n / a + n / a = 1 6 , 0 0 0 + n / a + ( 1 6 , 0 0 0 ) n / a 1 6 , 0 0 0 = ( 1 6 , 0 0 0 ) n / aA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 28 Event 5: Conner paid $10,000 to the instructor in partial settlement of salaries payable. 1. Decrease assets (cash). 2. Decrease liabilities (salaries payable). Asset Use Transaction = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e ( 1 0 , 0 0 0 ) + n / a = ( 1 0 , 0 0 0 ) + n / a + n / a n / a n / a = n / a ( 1 0 , 0 0 0 ) OAA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 29 Event 6: Conner paid $2,000 for advertising costs. The advertisements appeared in 2022. 1. Decrease assets (cash). 2. Decrease stockholders’ equity (retained earnings). Asset Use Transaction = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e ( 2 , 0 0 0 ) + n / a = n / a + n / a + ( 2 , 0 0 0 ) n / a 2 , 0 0 0 = ( 2 , 0 0 0 ) ( 2 , 0 0 0 ) OAA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 210 Event 7: Conner signed contracts for $42,000 of Consultants services to be performed in 2022. = L i a b . + C a s h + A c c o u n t s R e c e i v a b l e = S a l a r i e s P a y a b l e + C o m m o n S t o c k + R e t a i n e d E a r n i n g s R e v e n u e E x p e n s e s = N e t I n c o m e n / a + n / a = n / a + n / a + n / a n / a n / a = n / a n / aA s s e t s S t o c k h o l d e r s 39。 E q u i t y C a s h F l o w 211 LO 2 Organize general ledger accounts under an accounting equation. 212 Summary of Transactions Now, let’s prepare the financial statements for Conner Consultants using the data presented above. = Li a b. +E v e nt N o. C a s h + A c c ou nt s R e c e i v a bl e = S a l a r i e s P a y a bl e + C om m on S t oc k + R e t a i ne d E a r ni ng s O t he r A c c ou nt Ti t l e s B e g. B a l . $ $ $ $ $ 1 5 , 0 0 0 5 , 0 0 0 2 8 4 , 0 0 0 8 4 , 0 0 0 R e v e nu e3 6 0 , 0 0 0 ( 6 0 , 0 0 0 ) 4 1 6 , 0 0 0 ( 1 6 , 0 0 0 ) E x pe ns e5 (