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What is Suspense A/c?
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In order for to avoid the delay in preparations of final
accounts,the difference in trial balance is put in the
account named suspense account.If the debit is more than
that of credit in trial balance then on credit side the
difference is put in credit mentioning to suspense
account.if in future any error is found then suspense
account is closed,then also if there is any balance then it
is transfered to balance sheet.
| Is This Answer Correct ? | 54 Yes | 11 No |
Answer / satya rao
Suspense a/c is temporary arrangement to tally trial
balance. We need to create suspense a/c as and when there
is a difference in particular transaction and we dont know
in which head it needs to be posted so we posted it in
suspense a/c and when we find out the real accounting head
then we transfer it to that particular head from suspense
a/c.
| Is This Answer Correct ? | 41 Yes | 3 No |
Answer / kdr
suspense is taken when we dont know the one of the aspects
in the posting of an entry and also it contains either
debit balance and debit balance.it is used after the
preparation of trial balance
| Is This Answer Correct ? | 19 Yes | 7 No |
Answer / santosh
credit and dabit balancing diffrence amount posted in
suspense A/C.
| Is This Answer Correct ? | 32 Yes | 21 No |
Answer / rajesh
suspense account is a temporary account which is used to
close the finalisation of acounts, when ever assets and
liabilities are not tallying.
| Is This Answer Correct ? | 11 Yes | 5 No |
Answer / ehtesham zafar
its simply a temporary a/c opened to make the total debits
and total credits agreed,but when the cause is traced,it
must be removed.More the suspense accounts,more are r u
going wrong
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / hba
when the total of debit side does not agree with the total
of credit side in trial balance an account is opened to
make it look tally which is known as suspense account.
| Is This Answer Correct ? | 8 Yes | 3 No |
Suspense account is created when we are unable to trace the
transaction. For urgency in finalization of accounts, this
transactions are posted under suspense account.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / durgesh
trail balance is the statement for all ledger balances. and
it is used to measure the arthematical accuracy of
balances... here if trail balance is not equal then we have
debit or credit side which ever is short with suspense account.
| Is This Answer Correct ? | 5 Yes | 2 No |
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