During the current year, the following transactions take place at ABC Corp. For each transaction, list the financial statement accounts which changes and by how much. Each transaction may affect multiple accounts, so think through the implication of the transaction through the whole year.
Just list the account names and the amount. These transactions are independent of each other and not in any sequence.
Note: you do not need to create the full financial statements for these transactions. Only list the various account names and the amount against those accounts for each transaction. Each transaction is independent of the other transactions. 1. ABC hires a subject matter expert at a salary of Rs 5,000 per month including benefits. The subject matter expert is non-billable and is expected to help engineers with resolving their technical queries and assist them in new technology adoption. It's been one month since these engineers were hired and you have just paid them their salaries. 2. ABC borrows Rs 1,000,000 at 10% interest to fund a new R&D facility. The loan and the accrued interest is payable after three years. It's been one year since the loan was taken. Interest is due to be paid but not paid out yet. 3. ABC borrows Rs 1,000,000 at 10% interest to fund a new R&D facility. The loan and the accrued interest is payable after three years. It's been one year since the loan was taken. Interest is due to be paid and was paid out earlier that morning. 4. ABC sells it's 2 old PCs and buys 3 new PCs. Each old PC sold was Rs 1000 and each new PC was bought for Rs 2000. The PCs were sold for cash and were purchased for cash. The selling and buying happened back-to-back and was concluded earlier that morning. 5. ABC receives an advance today of Rs 500,000 for a new project for which it has to recruit 10 engineers from the start of the next