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B.B.A. LL.B. (Five Years) Sem 3 Cost and Management Accounting 2021 Mar Question Paper with Solutions

KSLU Solved Question Papers

Cost and Management Accounting

Previous Year Question Paper with Solution

B.B.A. LL.B. (Five Years) · Sem 3

2021 Mar Examination

munotes.in

Mumbai

First published on munotes.in on 21 October 2026.

Published by munotes.in, Mumbai.

Model answers written and edited by the munotes.in editorial desk.

Passages from this volume may be quoted, in print, online or by an AI system, with credit: name munotes.in and link to this volume's page. The volume may not be reproduced as a whole. Full terms at munotes.in/content-license.

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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.

The question paper reproduced here is the paper as set by Karnataka State Law University at the 2021 Mar examination.

The questions below are the paper as Karnataka State Law University set it at the 2021 Mar examination, in the order it was set.

MarksPage

The Paper as Set

The questions in this volume are the questions asked at the 2021 Mar examination, reproduced as Karnataka State Law University set them, in the order it set them. Long reading passages are shortened to their first and last lines and our summary; the original paper prints them in full. Only the answers are ours. See the original question paper.

Duration 3 hours · Total marks 80 · 20 questions answered

How to use this volume

Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.

Read the original question paper

Q1

(a)Prepare a Cash Budget for three months ending on 30th September 2019, from following information.[10]

Answer

The figures given in the question

Month	Sales	Material	Wages	Overhead
May	56,000	19,200	6,000	3,400
June	60,000	18,000	6,000	3,800
July	64,000	18,400	6,400	4,000
Aug.	68,000	20,000	7,200	4,400
Sept.	72,000	20,800	8,000	4,600

Credit terms are :

Sales : 10% on cash, 50% of the credit sales are collected in the next month and Balance in following month.

Creditors : Raw material 1 month, wages 1/2 month, overhead 1/4 month.

For full marks, cover: the reading of the credit terms (10 per cent cash sales; the rest collected half next month and half the month after; material paid a month later; wages half a month late; overheads a quarter of a month late); the collections and payments month by month; the cash budget for July to September 2019; the treatment of the opening balance, which the paper does not give; and a conclusion.

Reading the terms

Sales: 10 per cent is cash. The remaining 90 per cent is on credit, half collected in the next month and half in the month after. So 45 per cent of each month's sales comes in the next month, and 45 per cent the month after.
Material: one month's credit, so July pays for June's material.
Wages: paid half a month late. Each month pays the second half of last month's wages and the first half of this month's.

Overheads: paid a quarter of a month late. Each month pays the last quarter of last month's overheads and three-quarters of this month's.
The paper gives no opening cash balance, so the budget shows each month's net cash flow and the running total from a nil opening.

Receipts from sales

Source	July (Rs)	August (Rs)	September (Rs)
Cash sales, 10 per cent of the month	6,400	6,800	7,200
Credit sales of last month, 45 per cent	27,000	28,800	30,600
Credit sales of two months back, 45 per cent	25,200	27,000	28,800
Total, receipts	58,600	62,600	66,600

For July: 64,000 × 10/100 = 6,400 in cash, 60,000 × 45/100 = 27,000 from June and 56,000 × 45/100 = 25,200 from May.

Payments

Item	July (Rs)	August (Rs)	September (Rs)
Material, last month	18,000	18,400	20,000
Wages, half of last month and half of this	6,200	6,800	7,600
Overheads, a quarter of last month and three-quarters of this	3,950	4,300	4,550
Total, payments	28,150	29,500	32,150

July's wages are 6,000 × 1/2 + 6,400 × 1/2 = 6,200, and its overheads 3,800 × 1/4 + 4,000 × 3/4 = 3,950.

Cash budget for July to September 2019

Particulars	July (Rs)	August (Rs)	September (Rs)
Opening balance (none given)	0	30,450	63,550
Add: Receipts	58,600	62,600	66,600
Cash available	58,600	93,050	1,30,150

Particulars	July (Rs)	August (Rs)	September (Rs)
Less: Payments	(28,150)	(29,500)	(32,150)
Total, closing balance	30,450	63,550	98,000

The surplus of each month is 58,600 - 28,150 = 30,450 in July, 62,600 - 29,500 = 33,100 in August and 66,600 - 32,150 = 34,450 in September. If the firm has an opening balance, it is simply added to every closing figure.

Conclusion. Cash receipts are Rs 58,600, Rs 62,600 and Rs 66,600, and payments Rs 28,150, Rs 29,500 and Rs 32,150 in July, August and September 2019. The monthly surpluses are Rs 30,450, Rs 33,100 and Rs 34,450. With no opening balance given, the cash in hand builds up to Rs 98,000 by 30 September.

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