What is a SUSPENSE ACCOUNT?
the difference in the trial balance is not quickly located, it is usual to put
the difference to suspense account in order to make the trial balance balanced.
- If the debit side is short, the suspense account will be debited saying “To differences in trial balance” and
- Similarly, the suspense account will be credited if the credit side is short.
- The difference in the trial balance is due to type of mistakes which affect only one account such as wrong posting of an account, mistake in totalling a subsidiary book etc. Such types of mistakes are only reflected in suspense account.
When the difference in trial balance is put to suspense account the account to be corrected will be debited or credited as the case may be and the journal entry will be completed by crediting or debiting the suspense account. When all the mistakes have been corrected, the suspense account will show no balance.
Demo Classes of Accounts (CA/CMA/CS/B.Com/11-12th) by CA/CMA Santosh Kumar Sir
Visit Website: https://www.conceptonlineclasses.com/
Where To Get Best CMA Online Classes In India
COC Education is India's Best Institute To Get CMA Classes.
Who is The Best Faculty For Accounts?
You need the Best Faculty For Accounts, CA Exam Preparation, so that you can pass your exam with Flying Colors without wasting a single minute of your Precious Time. A Good Faculty will not only help you clear your exam but also help you achieve the highest rank Possible, which proves to be surely a great advantage in Job Placement after completing CA.
Best Video Lectures for Operations Management & Strategic Management (OMSM) CMA Inter Group-2
OMSM Operations Management and Strategic Management. Get your Video Lectures Operations Management and Strategic Management from COC Education
Introduction to Statistics for CA Foundation
Introduction to Statistics for CA Foundation Business Mathematics, Logical Reasoning and Statistics is designed as per latest CA Foundation syllabus for Paper 3 to provide a firm grounding in the principles, techniques and practice. The book adopts self-study approach and has been written in student-friendly manner. With a blend of conceptual learning and problem-solving approach, it offers in-depth understanding of the basic mathematical and statistical tools. #introductiontostatistics
Chapter X of Companies Act 2013
Chapter X of Companies Act 2013 The company shall place the matter relating to such appointment for ratification by members at every annual general meeting. ... Under the Act, the provisions for rotation of auditors in the listed Company & certain other class of Companies, have been provided for. #chapterxofcompaniesact2013
Relevant sections under the Companies Act, 2013 dealing with fraud and false statements
Relevant sections under the Companies Act, 2013 dealing with fraud and false statements The new parent corporate law “The Companies Act 2013” is mostly ... I am limiting my write-up to the provisions to the Act, and I request the readers to refer relevant rules, if any, before ... in the 2013 Act is the Section 447 dealing with “Punishment for fraud”. ... Section 448
What is Corporate Image
What is Corporate Image A corporate identity or corporate image is the manner in which a corporation, firm or business enterprise presents itself to the public. The corporate identity is typically visualized by branding and with the use of trademarks, but it can also include things like product design, advertising, public relations etc #WhatisCorporateImage
What is Energy Audit
What is Energy Audit An energy audit is an inspection survey and an analysis of energy flows for energy conservation in a building. It may include a process or system to reduce the amount of energy input into the system without negatively affecting the output. #whatisenergyaudit