Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
When information is not clear or complete to identify a
transaction with a particular account, it can be parked in
an account called 'Suspense Account'. Once the necessary
information is received, journal entry needs to be passed to
transfer the effect to the current account. All the
transactions in this account should be transferred to the
correct accounts before preparing the Final Accounts.
Suspense A/c is an account to park the transactions till
they are identified to the correct a/c.
| Is This Answer Correct ? | 21 Yes | 1 No |
Post New Answer View All Answers
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
Company ABC split 1:3 on March 31, 2009 and split 3:1 on March 31, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 3000 $75.00 April 23, 2009 $72.00 2300 $72.00 March 31, 2009 $67.00 999 $ March 31, 2008 $275.00 300 $91.66 November 30, 2007 $233.00 6800 $77.66 October 6, 2006 $1,333.00 13000 $444.33
What is cost accountancy? What are the objects of cost accountancy?
my interview is on tuesday so i just want to know everything about the interview like which type of question they will ask me as i completed m.com . please helm me plz plz
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
what is tribal area allowance means
Explain me what do you think is bank reconciliation statement?
my assessment says that I must post a dishonoured cheque in the general journal not a specialised journal how would I write that I know bank would be credited but what account would be debited???
What are the activities that are included in the cash flow statement?
What is the dual aspect concept?
as per partnership deed, salary to working partner is rs 8000/ per month (96000 annually), suppose if i have book profit of rs 50000/ only,then what is the procedure to give salary
What is the provision? What is the entry for provision?
what will be the possible question for an interview in account post as a fresher
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
Productive Investment is Working Capital. Is it correct?
