Question

18. The steam ship Travancore was chartered on 29th Sept. 2008 to carry tin from Madras
to Singapore at 300 per ton, and on the return journey to carry wine from Singapore
to Calcutta at 400 per dozen casks. The vessel was insured on 25th March, 2008, for a
year in advance, the premium being 4,80,000. From the following particulars you are
required to prepare the voyage account, the vessel arriving in Calcutta on 31st October
2008.
Freight carried 1,200 tons of tin to Singapore and 800 dozen casks of wine from
Singapore.
Sundry disbursements for voyage including port charges, harbour wages, fuel, captain's
expenses etc. 2,83,900 Stores purchased ? 1,62,000 there being opening stores on
hand 42,000 and closing stores on hand 64,000.
Address commission 2% on freight earned on outward journey, plus brokerage of 5% of
which one-third is payable to vessel, 2 per cent on freight earned on inward journey.
Brokerage of one-third of 5 per cent to charterers on freight earnings for inward voyage.
Managers to receive 5% commission on net profits after charging such commission
Passage money from passengers amounted to 11,200 on the outward journey and
* 12,200 on the inward.
The written down value of the ship and tackle is 50,40,000. Depreciation is to be
provided at 10% p.a. (calculated in months). Before distributing the profit ? 86,000 to be
provided in respect of repairs and renewals.
Calculate to the nearest rupee.
Ans. Net profit* 76,730).
INCOMPLETE VOYAGE
commenced a yoyage on 1st Feb. 2008 from Calcutta to London and back. On
y hack to​

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