What is suspense Account?
Answer Posted / hashim bim ali
unless the difference in the trial balance quickly located
it is usual to put all the difference to a suspense account
in order at least to make the trial balance look balanced.
if the debit side of the trial balance is short, the
suspense account will be debited by saying"to difference in
the trial balance, and similaryly credit side will be
credited if credit side is short.
| Is This Answer Correct ? | 28 Yes | 26 No |
Post New Answer View All Answers
What is a Balance Sheet & Profit & Loss Account?
What is back value adjustment/correction in Nostro Reconciliations?
Dear all We have purchases the dialer & loger with all equipement for setup new call center from simens ltd. i taken to in our books as plant & machinary under fixed assets .So we want the rate of deprecation. Please answered me .
What is account
Please define Transaction Type , Movement Type , Asset Transaction Type , Item Type & Document type. Please also give examples of each of them
duties of bank finance manager
My company's accountant use two different way to calculate Depreciation,one as per Companies Act and another rate for Income Tax calculation. Why we have to use two way to calculate it? Can we just use one way to calculate?
what is span of shares
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
Is commodities transaction tax a permissible business expenditure? Explain
define accounting,scope of account , types of account ?
1.how can carry forward the balance of ledgers to the next financial year in tally erp 9
what type of questions are asking for fund administration???
What do u mean by pass through expenses? give examples, how it will be accounted & billed?
which is the combine entry in ERP?