what is Suspence Account?
Answer Posted / ramesh
IF THE THROUGH CHECKING OF THE SUBSIDARY BOOKS, POSTING TO
LEDGER ACCOUNTS AND BALANCING OF ACCOUNTS HAS NOT HELPED TO
LOCATE THE THE ERRORS AND IN THE PREPARATION OF THE FINAL
ACCOUNTS CANNOT BE DELAYED THE DIFFFERENCE IN THE TRIAL
BALANCE MAY BE TRANSFFERED TEMPORARILY TO A SEPERATE
ACCOUNT CALLED SUSPENSES ACCOUNT OR DIFFERENCE IN BOOKS
ACCOUNTS.
IF THE DEBIT SIDE OF THE TRANSACTIONS EXCEEDS THE CREDIT
SIDE THE DIFFERENCE IS TO BE CREDITED TO SUSPENSE ACCOUNT
ON THE OTHER HAD IF THE CREDIT SIDE EXCEEDS THE DEBIT SIDE
IT HAS TO BE DEBITED TO SUSPENSE ACCOUNT.
THE SUSPENSE ACCOUNT APPEAR IN TRIAL BALANCE & IN BALANCE
SHEET.
| Is This Answer Correct ? | 29 Yes | 2 No |
Post New Answer View All Answers
Can someone tell me about SAP FI/CO test questions?WHat are the main things we must know?
When we are raised a interstate invoice then which type invoice we are raised
sir i'm having exp as a HR-Recruiter, now i'm willing to work in other areas of HR.Is learning of accounting courses such as (Payroll mgmt,TDS, service tax, vat, provident fund, gratuity fund, Tally ERP.9 )is necessary? if so, kindly guide me what all accounting courses i need to study to work in other areas of HR. or what are the qualifications required to work in other areas of HR? 2)one of my friend would like to know the job profile for Finance admin..
If its is declared by auditor that business is not going concern that what journal entry will be pass?
what are responsibilities of an accountant in a company?
• What are the types of cash flows?
Mention some of the major contributions made by you in your present and previous jobs
What do u mean by pass through expenses? give examples, how it will be accounted & billed?
EXPAND_________TOEFEL
let me know the meaning and Nature of cash
Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?
what is participation right is it a debt? or not?
What is the complete role of a Process executive in Accounts Payable Process ? Please anyone who is an expert in the process answer my question. A reply would help me a lot.
The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry
Questions asked for the post of Manager (Finance) in a Public Sector company Subject of group discussions for the post of Manager (Finance) in a Public Sector company