What is Loco Invoice? Give a specimen of Loco Invoice with the help of

1.	What is Loco Invoice? Give a specimen of Loco Invoice with the help of imaginary figures.
Answer» Loco Invoice: When the seller quotes any price for the goods, the price is for the goods to be delivered at the godown of the seller. The price does not include any expenses which are done by the seller on packing, cartage etc. This kind of invoice is known as loco invoice. Specimen of Loco Invoice: Seller: Preeti Booksellers, Kamla Nagar, Kanpur: Buyer: B.N. Baijal and Sons, Wright Town, Jabalpur Description of Goods: 20 copies of Indian History @ Rs. 48 per copy 50 copies of Modern Maths @ Rs. 50 per copy 30 copies of Advanced Accountancy @ Rs. 75 per copy. Expenses Incurred: Packing Rs. 175, Cartage Rs. 165, Loading Rs. 80, Freight Rs. 155, Insurance Rs. 355. Terms and Conditions: Trade Discount 10% 2% Cash discount if payment is made within a month. Prepare a Proper invoice.

What is Loco Invoice? Give a specimen of Loco Invoice with the help of imaginary figures.

Answer»

Loco Invoice: When the seller quotes any price for the goods, the price is for the goods to be delivered at the godown of the seller. The price does not include any expenses which are done by the seller on packing, cartage etc. This kind of invoice is known as loco invoice.

Specimen of Loco Invoice:

Seller: Preeti Booksellers, Kamla Nagar,

Kanpur: Buyer: B.N. Baijal and Sons, Wright Town,

Jabalpur

Description of Goods:

20 copies of Indian History @ Rs. 48 per copy

50 copies of Modern Maths @ Rs. 50 per copy

30 copies of Advanced Accountancy @ Rs. 75 per copy.

Expenses Incurred:

Packing Rs. 175, Cartage Rs. 165,

Loading Rs. 80,

Freight Rs. 155, Insurance Rs. 355.

Terms and Conditions:

Trade Discount 10%

2% Cash discount if payment is made within a month.

Prepare a Proper invoice.

Discussion

No Comment Found

Related InterviewSolutions

What kind of statement of goods prepared by the seller?
The statement which the selling agent prepares and submits to his principal is called: (a) Invoice (b) Account Sales (c) Sales Letter(d) None of these
Purchase agents appointed to purchase goods on behalf of their ……. (a) Agent (b) Customer (c) Principal (d) None of these
Amount payable is that amount which the buyer has to pay to the seller for the goods …… (a) Sold (b) Purchased (c) Either (a) or (b) (d) None of these
What do you understand by departmental stores?
In which country consumers co-operative store originated?
Distinguish between factor and broker.
Invoice is a statement of goods prepared by the: (a) Buyer(b) Customer(c) Seller(d) None of these
The invoice is the final evidence of: (a) Purchase (b) Sale (c) Goods (d) None of these
The expenses mentioned in the proforma invoice are: (a) Actual (b) Estimated (c) Either (a) or ( b) (d) None of these