What Does Suspense Account Mean?
- 13 Answers
- 22384 Views
- Capital IQ, Talk Delta, I also Faced
- E-Mail Answers
Answer Posted / srinivas annavarapu
A Suspense A/c is an account used temporarily to carry out
doubtful receipts or payments / disbursements for which the
analysis or correction (account number or proper account)is
pending. Once the analysis is done and found whether
mistake happened at Debit or Credit, it should be corrected
and Suspense a/c should be made Zero.
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
What is Home Loan Modification?
What is revaluation of Accounts, how does it is accounted in business
what is meant by cash purchase?
What is limit of turnover for registering under CST & limit of Form 'C '
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
what is payment method?How many payment method we can assign to company code.
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
How to Calculate PF with interest or without interest.
what is meant by qurum
objective of accounting
what tax will be on puchasing of sweets and is necessery to use form 38.
Short answer on Amalgamation
WHAT IS BANK RECONCILIATION STATEMENT? DIFFERENCE BET PUBLIC COMPANY AND PRIVATE COMPANY? MEMBERS IN PUBLIC CO AND PRIVATE COMPANY? WHAT IS DEPRECIATION?
can anybody send me interview question&answer to me in accounts and finance and income tax....my mail.id...jagathis1986@gmail.com
about tally erp9
