What is suspense Account?
Answer Posted / ramesh
IF THE THROUGH CHECKING OF THE SUBSIDARY BOOKS, POSTING TO
LEDGER ACCOUNTS AND BALANCING OF ACCOUNTS HAS NOT
HELPED TO
LOCATE THE THE ERRORS AND IN THE PREPARATION OF THE
FINAL
ACCOUNTS CANNOT BE DELAYED THE DIFFFERENCE IN THE
TRIAL
BALANCE MAY BE TRANSFFERED TEMPORARILY TO A
SEPERATE
ACCOUNT CALLED SUSPENSES ACCOUNT OR DIFFERENCE IN
BOOKS
ACCOUNTS.
IF THE DEBIT SIDE OF THE TRANSACTIONS EXCEEDS THE
CREDIT
SIDE THE DIFFERENCE IS TO BE CREDITED TO SUSPENSE
ACCOUNT
ON THE OTHER HAD IF THE CREDIT SIDE EXCEEDS THE
DEBIT SIDE
IT HAS TO BE DEBITED TO SUSPENSE ACCOUNT.
THE SUSPENSE ACCOUNT APPEAR IN TRIAL BALANCE & IN
BALANCE
SHEET.
Is This Answer Correct ? | 23 Yes | 8 No |
Post New Answer View All Answers
distinguish between Bill of Exchange and Promissory Note
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
what is operational risk and market risk in basel 2 norms.
what is cost centre , job costing & Budget control. what is the effect of these.Explain its briefly.
Why not we must to created Provision & Reserve? And if we're not to recognized what the effect will be?
Expand---------PED
Calculate Income Ta X On Nett Income Of Rs 365520 For Men,women And Senior Citizen For The Assessment Years 2009- 10 And 2010-11?
I want to know with example of vat & Salestax
what is non stock?
what is mean by traditional accounting ?
If someone knows about the test pattern of Junior executive accounts than please share.
What exactly is derivatives segment. can u explain futures and options with examples...
what is purchase tax in rajasthan.
while doing work in dolphin software when credit note is given by supplier to purchaser then purchaser is debited supplier account so on credit side which account is coming which account should be credited
In OD Account How Many Interest Paid or Not? and second CC Account How Many Interest Paid or Not?