Mr. Raju just appointed as an account manager at NH Sdn Bhd, a retail company selling merchandises for local market. Mr. Raju is being responsible to prepare and monitor the budget and expenses of the company business. Currently the company is preparing the quarterly budget as of 31 December 2020 and he has been asked by Ms. Sally, the owner of the company, to prepare a master budget. The sales forecast for the merchandises are provided as follows:

The average selling price and the average purchase price per unit are RM250 and RM120 respectively. As for desired ending inventory is expected 30% of next month’s unit sales. Collections from customers will be 20% in month of sale, 50% in month after sale and 30% two months after sale.

As for projected cash payments, inventory purchases will be paid in the month following acquisition. Meanwhile, variable cash expenses are equal to 35% of each month’s sales and paid in the month of sale. Fixed cash expenses are RM20,000 per month and are paid in the month incurred. Depreciation on equipment is RM2,000 per month. Desired ending cash balance per month will be RM20,000.

NH Sdn Bhd also has provided the following information at 30 September 2020

Balance Sheet as at 30 September 2020

Required:

Based on the information given, you are required to prepare the following budget** for the upcoming quarter ending 31 December 2020.

1. Sales Budget for each month of the quarter;
2. Purchases Budget for each month of the quarter;
3. Cash Budget for each month of the quarter;
4. Budgeted Income Statement; Quarter
5. Budgeted Balance Sheet.

Metlock Inc., a registered broker, enters into a finder’s fee agreement with HOM Homes Ltd. on June 15, 2020. Metlock will find leads in the form of buyers potentially interested in purchasing HOM’s real estate holdings. Along with finding potential buyers, Metlock helps negotiate the selling price and provides advice on contract details. If and when HOM closes a sale, Metlock will be paid within 30 days of the closing date, based on the following formula: 5% of any transaction value up to and including $1 million, plus 4% of any transaction value greater than $1 million and less than and including $2 million, plus 3% of any transaction value greater than $2 million and less than and including $3 million, plus 2% of any transaction value greater than $3 million and less than and including $4 million, plus 1% of any transaction value in excess of $4 million. If Metlock is represented by another broker and this information is not shared with HOM, the fee is reduced by 50%. On September 1, 2020, HOM paid Metlock $51,000 to provide some needed cash flow for seeking out buyers. On October 15, 2020, an offer was made and accepted for a parcel of real estate at a price of $3.50 million. The transaction closed on November 1, 2020, and Metlock was paid the finder’s fee net of $51,000 on November 30, 2020.

Determine the accounting treatment of the above events for Metlock Inc. and prepare any journal entries needed on: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

List of Accounts

• Accounts Payable
• Accounts Receivable
• Advertising Expense
• Allowance for Doubtful Accounts
• Allowance for Sales Returns and Allowances
• Cash
• Commission Expense
• Commission Revenue
• Compensation Expense
• Consignment Sales
• Construction Expenses
• Contract Asset/Liability
• Cost of Goods Sold
• Estimated Inventory Returns
• Interest Expense
• Interest Income
• Interest Payable
• Interest Receivable
• Inventory
• Inventory on Consignment
• Loss from Long-Term Contracts
• Materials, Cash, Payables
• Miscellaneous Expense
• No Entry
• Notes Receivable
• Office Expense
• Refund Liability
• Rent Revenue
• Returned Inventory
• Revenue from Consignment Sales
• Revenue from Long-Term Contracts
• Sales Discounts
• Sales Discounts Forfeited
• Sales Returns and Allowances
• Sales Revenue
• Service Revenue
• Unearned Rent Revenue
• Unearned Revenue
• Utilities Expense
• Warranty Expense
• Warranty Liability
• Warranty Revenue

In “Sonny’s Blues,” what does the narrator mean when he states, “Freedom lurked around us and I understood, at last, that [Sonny] could help us to be free if we would listen, that he would never be free until we did”? How does this quote tie into the collective past suffering of African Americans? How does this quote help us understand the story’s meaning? Explain.

Introversion and Extraversion characteristics and their effects on Marital bliss? (title) and

The variables introversion and extraversion are known to have varying effects on individuals

lives and collective lives and on the levels of happiness. The aim is to measure the synergistic

affect between the two and the happiness index as a result, being my hypothesis.What is the null hypothesis? What would be the

best amount of participants i should for this study? Why? What would be

best inclusion characteristics?

1. There are a considerable number of laws centered around labor relations and collective bargaining. Why do you think this area seems to have so many different laws compared to wages (FLSA) or safety (OSHA), for example?

2. Hawai`i has a large number of unionized employees compared to many other states. Why do you think Hawai`i has so many unions?

Does a statistics course improve a student's mathematics skills,as measured by a national test? Suppose a random sample of 13 students takes the same national mathematics exam prior to enrolling in a stats course and just after completing the course. At a 1% level of significance determine whether the scores after the stats course are significantly higher than the scores before. Take the differences = before - after.

Before    After
430        465
485        475
520        535
360        410
440        425
500        505
425        450
470        480
515        520
430        430
450        460
495        500
540        530

Locate student 9 in the dataset. What rank will be given to this student? ________.


What is the value of the test statistic, T? Give answer to 1 decimal place. ________.


What is the critical value for the study? (Hint: student 10 will be dropped from the analysis, since the scores are the same before and after the stats class). ________.

some nations are better than others in innovation and creativity. Explain this in 300-400 words ( please donot copy from internet

How do you believe the term "quality" in health care will evolve as technology and innovation continue to shape health care services?