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What is suspense account?
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Answer / ch.ramesh
if trail balance is not tally then we have to create the
suspense account (for trail balance equalize purpose )
| Is This Answer Correct ? | 17 Yes | 5 No |
Answer / vicky
If You dont know in which account that expense is incurred then you have to put that to suspense account
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / nitin
while tallying the trial balance , if there is a difference between both side and you dont know the reason of that then transfer it to the suspense account. when you come to know about the relevant account later on then transfer to it by closing suspense account.
| Is This Answer Correct ? | 3 Yes | 0 No |
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