A typical suspense account example is running a trial balance to check a double-entry balance sheet. If there is an anomaly, this amount is placed in a suspense account until thebalance is corrected, and the amount is accurately placed in the right account. Just like any to-do pile, the...
Trial Balance is a tabular statement, containing a specified date on which it is prepared, indicated at the top of the statement. The balances of all the assets, expenses, losses, drawings, cash and bank account are taken to the debit column whereas the balances of all the liabilities, inco...
What was the balance on the suspense account? A.Credit $20,400 B.Debit $20,400 C.Debit $40,800 D.Nil 你可能感兴趣的试题 问答题 身临其境什么意思?身临其境怎么读? 答案:参考答案: 拼音:shēn lín qí jìng,简拼:slqj 成语解释:临:到;境:境界,地方。... ...
When a trial balance was prepared, the closing inventory of $20400 was omitted. To make the trial balance, a suspense account was opened.What was the balance on the suspense account?A.NilB.Debit ＄20400C.Credit ＄20400D.Debit ＄40800点击查看答案&解析 手机看题 你...
What is the balance in the Manufacturing overhead account? What is a bank balance? What would explain the allowance for uncollectible accounts having a debit balance? What is the difference between the trial balance and the adjusted trial balance?
Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements. It is usually prepared at the end of an accounting period to assist in the drafting of financial state
A suspense item is an item that is doubtful because such items may need clarifications. Suspense items are recorded in suspense accounts until their...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
There are certain errors that a trial balance will not detect such as posting on both sides to a wrong ledger account, transposing debit and credit entries in the general ledger and making two errors that cancel each other out. Once errors are detected, a suspense account is created. This ...
We found this throwback scene from an earlier episode, which is too adorable to miss.The scene takes place after Dayaben injures both her hands and has to survive on plasters temporarily. In such a situation, Jethalal took the onus of the house and took care of her along with his father...
Now you have a balance. The life of the bush is protected frommost, but its life is extended tosomeas a food source. No one can know why God works the way God does, but this theory is the best we can come up with using our very limited human minds. ...