What is Suspense A/c.?
Answers were Sorted based on User's Feedback
Answer / rajni
the difference of the trail balance is transferred to the
suspence account, and the trail balance is thus tallied.
later on, when the errors will be located, they can be
rectified through the Suspence Account. the suspence
account will be eliminated when all errors will be located.
Is This Answer Correct ? | 13 Yes | 1 No |
Answer / prrempaulsingh
any entery reflected by bank account but we have not any
spporting documents so i antered a suspense account and
also clrefication from bank and parties and rectified from
suspenses
Is This Answer Correct ? | 5 Yes | 2 No |
Answer / anuradha
suspense account is a temprory account which is used to
close the finalisation oof accounts whenever tha assets and
liabilities are not taken for ...........
Is This Answer Correct ? | 4 Yes | 3 No |
Answer / dinesh singla
a suspense account is an account which is opened when the
trial balance does not tally and in which the difference in
the trial balance is entered to tally the trial balance.
Is This Answer Correct ? | 2 Yes | 2 No |
Answer / grish shinde
any entery reflected by bank account but we have not any
spporting documents so i antered a suspense account it
should be clerefi from bank and parties and rectified from
suspenses
Is This Answer Correct ? | 1 Yes | 1 No |
Expand--------ACRD
PLEASE EXPLAIN DEBIT NOTE & CREDIT NOTE?WITH THE FOLLOWING QUESTION? 1)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS SUPPLIER(CREDITOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS? 2)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS CUSTOMER(DEBTOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS?
Agreement of Trial Balance is not a conclusive proof of absence of Errors. Will you support me
Expand ________DGFT
What is ASAP methodology
What is the meaning of net incaome?
How does the rendering of services on account affect the accounting equation? a. Liabilities increase; stockholder’s equity decreasesb. Assets increase; liabilities increase c. Assets decrease; stockholder’s equity increases d. Assets increase; stockholder’s equity increases
what can increase gearing?
What is the difference betwn "Inventory" and "Stock".
give narration of cash----a/c---Dr To cash
Short Answer on __________written Down value
what is the main difference between nse & bse operations