Question

19 X Shipping Ltd., Bombay purchased a ship "S.S. Jalayan" for * 1,00,00,000 on April 1, 2016 and got her insured @ 4% pa. The freight was insured @ 40,000 p.a. The ship was deployed on Bombay - Singapore route. During three months ending June 30, 2016 the ship completed one round trip to Singapore and was half way through on the next voyage to Singapore. It carried the following cargo : To Singapore : 10.000 tonnes @ 40 per tonne From Singapore : 8.200 tonnes @ 350 per tonne To Singapore : 8,500 tonnes @* 48 per tonne Primage was 4% and Address Commission 5%. The other expenses incurred were as under : Port Dues : Bombay 18,000; Singapore * 12,000; Wages and Salaries * 90,000 ; Bunker 1,10,000: Stevedoring 89,800 @* 2 per tonne); Stores and provisions consumed *20,000; Overheads inclusive of depreciation 75,000. Prepare Voyage Account for the period ending June 30, 2016. (G.N.D.U. B.Com. Nov. 2013) (Ans. Voyage Profit 33,79,480; Voyage in Progress 1,25,216] 20. X shipping Co., Ltd., Bombay acquired a ship costing 50 lakhs on 1st December 2015 and ent her insaned Th​

Answer 1

Explanation:

CALCULATION OF VOYAGE IN PROGRESS

•all the expenses are taken as 1/5

•address commission for inward only

•stevedoring RS 2 on 8500 units

PROVISION FOR FREIGHT/ INCOMPLETE VOYAGE

•formula (freight inward + primage inward)

hope this helps you