joseph voyaged from Africa for Australia on 1st February, 1998. On 31st March, 1998, when the accounts of the company are closed, joseph was on her way back to Africa from Australia on Voyage No.707, having covered half of the return voyage. The following details of expenses and income for the entire voyage to and from Calcutta are furnished: Freight charges 8,00,000 30,000 Port charges Salary of crew 8,08,000 Consumption of: Coal 1,40,000 Stores 60,000 Insurance of: Ship for the voyage 1,00,000 40,000 Freight 80,000 Depreciation for the ship for the two months of the voyage Preimage is at 10% on freight charges. Address commission is at 5% on freight charges and preimage. Only $. 3,00,000 freight was available on return journey to Visakhapatnam. Three-fourths of the total voyage including return journey is complete on 31st March, 1998. Of the total expenses, expenses unconnected with freight shall be carried forward as "in process for the balance of the journey. As freight is actually earned only on completion of a voyage, you have to carry forward the freight in respect of the return journey as well as all incidental incomes. Prepare voyage account for the period 1st February, 1998 to 31st March, 1998.
