Interested to Buy Any Domain ? << Click Here >> for more details...
how to pass entries for suspense account?
- 5 Answers
- 34415 Views
- Reliance Construction, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rituraj
Mostly suspense account is made whenever there is a loss of
any accounting information. Say for a purchase entry on the
cash book has been posted and no entry and the information
of Purchase is omitted then
Purchase A/c Dr.
To Suspense A/c
then it is adjusted in Profit and loss adjustment a/c
| Is This Answer Correct ? | 29 Yes | 7 No |
Answer / vasudeva
As every journal entry has two aspect debit and credit, if
any information is not avaialbe on one side of aspect then
suspens account can be recorded. if debit side no
information debit suspens ac or if credit side no
informatio credit suspens ac.
| Is This Answer Correct ? | 26 Yes | 6 No |
Suspense means unknown transaction. For exp, we have
received wire transfer without clear description, it means
unknow payment received from customer (unknown customer)
So the entry would be:
Bank Dr. *****
To suspenses account ******
| Is This Answer Correct ? | 28 Yes | 10 No |
Answer / abilasha
Suspance account means the receipt or payment is nor provide the details of party or company name on that time we will record the suspance a/c. The entry is in a bank statement without name one party deposit the amount to account on that time entry is
Suspance A/c ......dr
To.bank A/c.....Cr
Like this........ K.... this my opinion by experience
| Is This Answer Correct ? | 16 Yes | 7 No |
in Sensex and Nifty, what is the measure to take the points
What is debit and credit?
What is band and why the company needs this?
What is Goodwill?
Tell me,as per companies which section P&L Account and balance sheet will be prepared
why companies put ltd and pvt ltd,what is the difference?
Why do you prepare a P/L Appropriation a/c?
Please help me in this entries Pass accounting entries for the following transaction in the books of XYZ company. A rendered professional service to company XYZ and sent an invoice dated 01/01/2016 for Rs 1,00,000/- + service tax Q1. Pass journal entry for the invoice received considering the service tax and TDS. Q2. Payment was made on 01/02/2016 by cheque. Pass payment entry.
journal entry of outstanding
What is the abbreviation for the accounting terms debit and credit?
double entry system
1 Answers Spedag Interfreight,
What is difference between Expense and Expenditure ? Please explain in detail..
Audit 
