Question

Bharat Shipping Co. Ltd. of Madras has a ship by name 'Bharat' whose written down
value as on July 1, 2008 was 24 lakhs. The ship was insured for 30 lakhs at 1% for
voyage policy of hull. The ship made a trip to Sydney and returned to Madras during
the period July 1, 2008 to September 30, 2008. The particulars relating to the voyage
(1) Expenses incurred
le) Share of overhead for the ship
(2Stevedoring at the rate of <3 per tonne
(4) The freight was insured at 1%.
(5) The particulars of the freight consisted of the following:
(a) Leather goods 1,100 tons at the rate of 120 per tonne
Ans.
profit 23,862.
3
he
9)
are given below.
(a) Salaries of crew.
(0) Fuel
(c) Port dues
25,000
55,000
30,000
32,000
16,000
(d) Slores expenses
including primage. Prepare the voyage account for the three months period endir
3 Depreciation was charged on the written down value of the ship at the rate of
(b) Cotton 500 tonnes at the rate of * 150 per tonne
(c) Sugar 1,700 tonnes at the rate of 100 per tonne
10% per annum.
March 31, 2008.
Ans. Profit on voyage * 1,32,295 ; Brokerage 20,735 ; Primage 37,700).​

Answer 1

Answer:

Bharat Shipping Co. Ltd. of Madras has a ship by name 'Bharat' whose written down

value as on July 1, 2008 was 24 lakhs. The ship was insured for 30 lakhs at 1% for

voyage policy of hull. The ship made a trip to Sydney and returned to Madras during

the period July 1, 2008 to September 30, 2008. The particulars relating to the voyage

(1) Expenses incurred

le) Share of overhead for the ship

(2Stevedoring at the rate of <3 per tonne

(4) The freight was insured at 1%.

(5) The particulars of the freight consisted of the following:

(a) Leather goods 1,100 tons at the rate of 120 per tonne

Ans.

profit 23,862.

3

he

9)

are given below.

(a) Salaries of crew.

(0) Fuel

(c) Port dues

25,000

55,000

30,000

32,000

16,000

(d) Slores expenses

including primage. Prepare the voyage account for the three months period endir

3 Depreciation was charged on the written down value of the ship at the rate of

(b) Cotton 500 tonnes at the rate of * 150 per tonne

(c) Sugar 1,700 tonnes at the rate of 100 per tonne

10% per annum.

March 31, 2008.

Ans. Profit on voyage * 1,32,295 ; Brokerage 20,735 ; Primage 37,700).