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QUESTION 4 (20 MARKS) Roman Berhad is a company located in Kuala Lumpur. The company's statement of financial position as at Jan 2020 as below: Roman Berhad Statement of Financial Position Jan 2020 PARTICULARS RM Cash 12,000 account Receivable 77,500 Building 267,000 TOTAL ASSET 356,500 Account Payable 78.250 Note Payable 19.300 Retained Earnings 258,950 TOTAL LIABILITIES AND EQUITY 356,500 il 111. Additional information to preparing budget for Feb 2020: i. Sales are budgeted at RM231,000 for February 2020. Of these sales RM69,300 will be cash, the remainder will be credit sales. One-half of a month's credit sales are collected in the month the sales are made and the remainder is collected in the following month. All of January 31 account receivable will be collected in February Total disbursement cash for merchandising is RM133,850 for the month of February Selling and administrative expenses for February 2020 are budgeted at RM89,600 The expense is paid by cash. Note payable on Jan 31 will be paid during February, with RM155 in interest. Company will purchase furniture RM12,500 during February 2020. Borrow RM24.000 from bank during February. a. Calculate the expected cash collection from customers for February 2020. (Show workings) (8 marks) (CLO2:PLO5.C) b. Prepare the cash budget for February 2020. (12 marks) (CLO2:PLOS:C6) iv. V. vi. 1. EXPECTED CASH COLLECTION FOR DECEMBER DECEMBER (RM) 83,000 Cash Sales collection : October sales (400,000 x18%) Nov Sales (60% x525,000) Dec Sales (20% x 600,000) total cash collection 72,000 315,000 120,000 590,000 2. EXPECTED CASH DISBURSEMENTS FOR MERCHANDISE PURCHASE DECEMBER (RM) CASH DIS PURCHASE: Nov Purchases (AP) Dec Purchases (280,000 X30%) total cash disbursement purchase 161,000 84,000 245,000 Minden Company Cash Budget For the Month of May Beginning cash balance Add collection from customers Total cash available Less cash disbursements: Purchase of inventory Selling and administrative expenses Purchases of equipment Total cash disbursements Excess of cash available over disbursements Financing: Borrowing-note Repayments-note Interest Total financing Ending cash balance