What can the maxium amount transfer to the Suspense a/c?
Answer Posted / sharath
There is no maximum limit in a suspense account. That does
not mean that all the un reconciled amounts are transfered
to suspense, they have to be reconciled and only the rest
can be posted. The amount to be posted can be decided based
on the size of the business.
Is This Answer Correct ? | 15 Yes | 0 No |
Post New Answer View All Answers
describe how accuracy in trial balance is a prime objective for preparing the financial statements?
I WANT ACCOUNT ASSISTANCE INTERWIEV QUETION IN L&T
Expand-------SNAT
What are the legal entities that constitute your business? Does a legal entity have a seperate Federal Tax Id? In which country does a legal entity operate? In which currency does a legal entity operate? When does each legal entity's fiscal year begin?
If a bank lends money to FFMC's for working capital requirement, whether the Bank can have charge on the currencies FFMC deal/exchange, by way of hypothecation or is it just a clean loan.
With scan-based trading, are retail companies creating inventory at the point of sale or recording income/expense?
Expand---------TDCB
Short Answer on __________Measurement
Why you choose commerce faculty & not science or Why you are in commerce & not in science ?
Can you explain about the distinction of Book-Keeping and Accounting
What is intangiable asset?Which contents are to be verified during cheking the Transporters' bills?
EXPAND______________ICT
You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
Short Answer on ______Transaction
Expand-------NSAC