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B.B.A. LL.B. (Five Years) Sem 3 Cost and Management Accounting 2024 Aug 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

2024 Aug Examination

munotes.in

Mumbai

First published on munotes.in on 1 November 2026.

Published by munotes.in, Mumbai.

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

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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 2024 Aug examination.

The questions below are the paper as Karnataka State Law University set it at the 2024 Aug examination, in the order it was set.

MarksPage

The Paper as Set

The questions in this volume are the questions asked at the 2024 Aug 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

Instructions printed on the paper

N.B. (1) Answer all five Units. (2) One essay type question and short note/problems is compulsory from each Unit. (3) Figures to the right indicate marks. (4) Answer should be written in English completely. (5) Use simple calculator only.

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

Unit I

(a)Bajaj Company wishes to arrange overdraft facilities with its bankers during the period from April to June 2023. When it will be manufacturing mostly for stock. Prepare a cash budget for the above period from the following data, indicating the extent of the bank.[10]

Overdraft facility that the company will require at the end of each month.

Answer

The figures given in the question

(a)

2023	Sales	Purchases	Wages
February	90,000	62,400	6,000
March	96,000	72,000	7,000
April	54,000	1,21,500	5,500
May	87,000	1,23,000	5,000
June	63,000	1,34,000	7,500

(b) 50% of the credit sales are realised in the month following the sales and remaining 50% in the second month following.

(d) Lag in the payment of wages : 1 month.

(e) Cash at bank on 1/4/2023 is estimated at Rs. 12,500.

For full marks, cover: the reading of the data (all sales on credit, collected half in each of the next two months; purchases and wages paid a month later); a schedule of collections from debtors; the cash budget for April, May and June 2023; the overdraft needed at the end of each month; and a conclusion.

Reading the data

The question gives no cash sales, so every sale is taken as a credit sale.
Half of each month's sales is collected in the next month, and half in the month after that.
Purchases are paid for in the month after purchase, so April pays for March's purchases.
Wages are paid a month late, so April pays March's wages.
Cash at bank on 1 April 2023 is 12,500 rupees.

Schedule of collections from debtors

Month of sale	Sales (Rs)	April (Rs)	May (Rs)	June (Rs)
February	90,000	45,000
March	96,000	48,000	48,000
April	54,000		27,000	27,000
May	87,000			43,500
Total, collections		93,000	75,000	70,500

For example, April collects the second half of February's sales, 90,000 × 50/100 = 45,000. It also collects the first half of March's sales, 96,000 × 50/100 = 48,000. The first half of February's sales came in during March, before the budget period. June's own sales are collected in July and August.

Cash budget for April to June 2023

Particulars	April (Rs)	May (Rs)	June (Rs)
Opening balance (overdraft in brackets)	12,500	26,500	(25,500)
Add: Collections from debtors	93,000	75,000	70,500
Total, cash available	1,05,500	1,01,500	45,000

Particulars	April (Rs)	May (Rs)	June (Rs)
Payment to creditors, previous month's purchases	72,000	1,21,500	1,23,000
Payment of wages, previous month's wages	7,000	5,500	5,000
Total, payments	79,000	1,27,000	1,28,000
Closing balance (overdraft in brackets)	26,500	(25,500)	(83,000)

Working of the closing balances

April: 1,05,500 - 79,000 = 26,500 in hand.
May: 1,01,500 - 1,27,000 = -25,500, an overdraft of 25,500.
June: -25,500 + 70,500 = 45,000 available, and 45,000 - 1,28,000 = -83,000, an overdraft of 83,000.

Overdraft required

Month end	Bank balance or overdraft	Overdraft needed (Rs)
April	Balance of Rs 26,500	0
May	Overdraft	25,500
June	Overdraft	83,000

The company is manufacturing mostly for stock. Its purchases rise sharply from April, while collections fall because April's sales were low. So the overdraft grows quickly.

Conclusion. The company needs no overdraft at the end of April, when it has Rs 26,500 at the bank. It needs an overdraft of Rs 25,500 at the end of May and Rs 83,000 at the end of June. It should arrange a limit of at least Rs 83,000 with its bankers for the period.

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