Interested to Buy Any Domain ? << Click Here >> for more details...
What is suspence a\c? why it should not transferred to the
balance sheet?
- 4 Answers
- 9298 Views
- I also Faced
- E-Mail Answers
Answer Posted / bhanuprasad gollapudi
SUSPENCE A/C IS WHEN TRAIL BALANCE DIFFERENCE IN DEBIT SIDE THEN THE ADJUSTMENT AMOUNT IS POST(SHOW) IN SUSPENCE ACCOUNT SO CALLED AS SUSPENCE ACCOUNT.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Ours is a technology firm. We got a contract of 1 lac. It is payable at the end of the contract. How you will recognize revenue?
How much mathematics knowledge is necessary or required in accounting?
What is the journal entry of building rent and TDs payment?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
If a consultant charged his fee n receive so can i pass the journal entry n how i can i maintain bal sheet
Plant and machinery destroyed for 50000
What information do you require before you approve an invoice for payment?
Any body would tell me how to takeover withholding tax at the time of go live in sap fico
record the following transaction in the various books of accounts F Black loan us $5000 paid by cheque.
What is the formula for acid test ratio in accounting?
what is accounting cycle ?
Hi, Mobile manufacturing given a mobile phone as a gift to their employee. What journal entry we need to pass in company point of view.
DIFFERNCE BETWEEN RESERVE AND FUND?
what is basic general accounting.
entry for cash received from debtors
