Interested to Buy Any Domain ? << Click Here >> for more details...
What is suspence a\c? why it should not transferred to the
balance sheet?
- 4 Answers
- 9302 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Suspense A/c is a ledger account to park the transactions
temporarily. At the time of recording any transaction
(generally payment or receipt) if the details are not
available, the amount will be debited or credited to
suspense account. It should be followed up with the
considered persons for information/details and the amo0unt
should be transferred to the correct ledger account through
journal entry once the required clarification or information
is received.
The correction should take place in the same accounting
period & the balance should be zero in this account as on
the date of Balance Sheet. Hence Suspense A/c should not
appear in the Balance Sheet of P&L Account for the
accounting period.
| Is This Answer Correct ? | 10 Yes | 3 No |
Answer / mazahar
simple answer
suspense account generally created when the expenses not
confirmed to original entry. once it confirm the expenses
then transfer to original account.
suspense a/c Dr
cash a/c cr
( suspense account for time being )
after defined the original entry (salary a/c)
salary ac Dr
suspense ac cr
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / bhanuprasad gollapudi
SUSPENCE A/C IS WHEN TRAIL BALANCE DIFFERENCE IN DEBIT SIDE THEN THE ADJUSTMENT AMOUNT IS POST(SHOW) IN SUSPENCE ACCOUNT SO CALLED AS SUSPENCE ACCOUNT.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mona
SUSPENSE :- NOT CLEAR SOME QUARIES WE PUT IN SUSPENSE WHEN
NOW ABOUT SESPENSE THEN IT CLEAR,
| Is This Answer Correct ? | 5 Yes | 8 No |
What is a ledger in regards to accounting?
Tell me what do you think is bank reconciliation statement?
In which account does the unpresented cheque will get recorded?
What do you mean by material facts in accounting?
Can you tell me entry tax will be applicable on Spectacles purchase from u s a
how to answer tell me about yourself in an interview?
7 Answers Genpact, Hindustan Adhesives, InTouch, TATA, Wipro,
What is recording damage inventory in books of account?
Which of the following are of capital nature? (a) Purchase of a goods (b) Cost of repair (c) Wages paid for installation of machinery (d) Rent of a factory
PAID TO SALARY FOR JASIL 1500.JASIL LOAN 500
If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable/TDS payable a/c. kindly clarify
how to select afile in window vista
what is indian currary (but not rupee) like bound etc...
Audit 
