The account temporarily holds entries while you decide how you will classify them. A suspense account can also hold information about discrepancies as you gather more data. When you open an accounting suspense account, the transaction is considered in suspense. You can open a bank account to ...
a suspense account is a type of brokerage account where a customer's proceeds from selling an investment may be recorded until the customer uses the money to invest in something else.
The idea of the suspense account is also found with branchless banking, or BB. For example, if a customer submits payment via an electronic transfer to the bank of a supplier, the funds are placed into a suspense account until they are actually deposited into the supplier’s bank account. ...
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When your trial balance is out of balance (i.e., thedebitsare larger than thecreditsor vice versa) then the difference is held in a suspense account until the imbalance is corrected. Credits larger than debits? Record the difference as a debit in the suspense account. Debits larger than cr...
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A suspense account is an account used on a temporary basis for any transaction or balance that cannot be identified.
What is the function of a suspense account? A、A device used to enable the production fo the financial statements, when required, despite the presence of errors. B、 A method of ensuring the trial balance will agree. C、 A way of focusing attention upon
The suspense account shows a debit balance of 100. What could this balance be due to?? Entering 50 received from A Turner on the debit side of A Turner's accountEntering 50 received from A Turner on the credit side of A Turner's accountUndercasting the sales day book by 100Undercasting...
The suspense account shows a debit balance of $100. What could this balance be due to? A.Entering $50 received from A Turner on the debit side of A Turner's account B.Entering $50 received from A Turner on the credit side of A Turner's account...