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suspense account

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › suspense account

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • Author
    Posts
  • September 18, 2020 at 9:01 am #586006
    mkfatima
    Member
    • Topics: 19
    • Replies: 3
    • ☆

    hi

    the question below in which two entries confuse, i don’t understand its meaning kindly help me

    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 a/c.
    B Entering $50 received from A Turner on the credit side of A Turner’ s a/c.

    why both A& B options are wrong, what is double entry for these transactions and why it is not making any difference ?

    September 18, 2020 at 2:07 pm #586036
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54705
    • ☆☆☆☆☆

    The individual accounts in the receivables ledger are not part of the double entry.

    Do watch my free lectures on Books of Prime Entry. 🙂

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