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Suspence account is used where there is one or more debit or credit account information is missing in transaction due to unavailability of information or any other reason to balance out the transaction for time being.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoSuspence account is used where there is one or more debit or credit account information is missing in transaction due to unavailability of information or any other reason to balance out the transaction for time being.
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Is suspence account?
Suspence account is used to fill the place in any transaction where either debit or credit side account is not know due to any reason like incomplete information.
What is suspence account?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
Can any adjustments be made after a post closing trial balance?
You can create a suspence account for adjustment of transactions.
Is capital account is real account or nominal account?
Real Account
Is the drawing account is a temporary account?
Drawings Account is a Temporary Account
Is suspence account?
Suspence account is used to fill the place in any transaction where either debit or credit side account is not know due to any reason like incomplete information.
Suspense Account format?
suspence account are temporary holdling account for financial information on general ledger
What is suspence account?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
Can any adjustments be made after a post closing trial balance?
You can create a suspence account for adjustment of transactions.
What is the definition of Suspence?
what is the definition of suspense
A feeling of curiosity or uncertainty?
Suspence
What is the theme of the myth the kidnapping?
Suspence
What is the atmosphere of the monkeys paw?
suspence and tension
What is the theme of the book The Kidnapping of Christina Lattimore?
Suspence
What is the second word for conflict?
the second word for conflict according to me suspence bacause conflict comes in the story when suspence comes in the story so conflict is a part of conflict
How do you keep a blonde in suspence?
I'll tell you next week
What is create?
when you create suspence e.g. in a movie the music may create suspense
