suspense Accounts

difference between cr 24100 and dr 23200 is 900. debit is lower , so to balance, u debit suspense a/c by 900. so initial suspense a/c balance is 900.

1. correct entry should be
dr cash 2300
cr receivables 2300

entry recorded was
dr cash 2300
cr receivables 3200
(here the cr is more than debit by 900, hence we put debit suspense as 900 so both sides r equal that is
dr cash 2300
dr suspense 900
cr receivables 3200

Now to remove the suspense balance we pass the entry
dr receivables 900 (now the receivables has got the correct balance ie cr 3200 – dr 900 = cr 2300)
cr suspense 900 ( to remove the suspense balance)

2. correct enty should be
dr car 8000
cr cash 8000

entry recorded was
cr cash 8000
cr motor repair 8000
now there is only cr side for this equation which is 16000 and no debit side , so we put 16000 dr on the suspense a/c

dr suspense 16000
cr cash 8000
cr motor repair 8000

to remove suspense balance the entry wud b
dr car 8000
dr repair 8000(this offsets the earlier cr balance on repair a/c)
cr suspense 16000(this offsets the dr balance on suspense a/c)

so suspense a/c balance will be dr 900 (opening balance)
cr 900 (from error 1)
cr 16000( from error 2)

so final balance on suspense a/c will be cr 16000. correct me if am wrong.