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lOMoARcPSD|15601840
Voyage Account
Financial Accounting (University of Kerala)
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A voyage includes both outward and
return journey
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Some common terms used in Voyage
Account:
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Primage:
Percentage on freight collected for the
ship-owner previously and which is
retained with the ship-owner for
ensuring safe carriage of cargo
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Passage Money:
Fare collected from the passengers
travelled in addition to the fare’
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Port Charges:
Charges paid to port authorities for
allowing the ship using the port for
loading or unloading purposes
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Generally,
voyage profit represents the excess of
voyage incomes earned over the
expenses incurred for this purpose
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To sum up, the following expenses are
usually debited to Voyage Account:
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(Moreover, in
addition to above, general overheads
are also to be apportioned)
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Illustration 1:
S
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Jaihind commenced a voyage on 1
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2010 from Mumbai to London and
back
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11
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It carried a consignment of
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The ship was
insured and the annual premium was
Rs
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Prepare a Voyage Account from the
following particulars:
Address commission 5% on outward
and 4% on Inward freight Primage is 5%
on freight
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Stores and
Coal on hand were valued at Rs
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11
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S
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On 31st December, on which date the
accounts are to be closed, the return
voyage had not been completed
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com)
lOMoARcPSD|15601840
The details for the entire voyage to
Mumbai and back to Calcutta
completed after 31st December were:
Illustration 3:
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1998
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S
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Jalaksha was on her way
back to Visakhapatnam from Calcutta
on Voyage No