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प्रश्न
While preparing the trial balance, the accountant finds that the total of the credit column is short by ₹ 200. This difference will be __________.
विकल्प
Debited to suspense account
Credited to suspense account
Adjusted to any of the debit balance
Adjusted to any of the credit balance
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उत्तर
While preparing the trial balance, the accountant finds that the total of the credit column is short by ₹ 200. This difference will be Credited to suspense account.
APPEARS IN
संबंधित प्रश्न
Write a note on the suspense account.
The difference of totals of both debit and credit side of trial balance is transferred to ____________.
From the following balances, prepare trial balance of Baskar as on 31st March, 2017. Transfer the difference, if any, to the suspense account.
| Name of the account | ₹ | Name of the account | ₹ |
| Opening stock | 40,000 | Debtors | 25,000 |
| Capital | 90,000 | Carriage inwards | 16,500 |
| Sales | 1,77,200 | Bills receivable | 20,000 |
| Salaries | 12,000 | Commission received | 5,550 |
| Bills payable | 9,450 | Cash at bank | 17,000 |
| Telephone charges | 2,350 | Furniture | 19,000 |
| Creditors | 16,000 | Plant and Machinery | 55,800 |
| Purchases | 85,000 | Repairs | 550 |
Why is a suspense account created in accounting?
How long does a suspense account remain open?
When does the Suspense Account carry a balance to the next accounting year?
If the total credits exceed the total debits in a trial balance, where is the difference entered?
Which of the following errors would NOT involve the Suspense Account during rectification?
What is the main importance of a suspense account during preparation of financial statements?
What does the suspense account ensure after corrections?
If a suspense account still has a balance at the end of the year, it indicates:
