BPP Black Friday sale!

40% discount on all BPP books specially for OpenTuition students!
Get it here >>

suspense account

This topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
November 19, 2014 at 11:37 am #211246
saifudeen
Member
- Topics: 85
- Replies: 85
the ommission of petty cash book balance will cause a imbalance in the trial balance ?
and wether this needs a suspense account or not to correct this ?
November 19, 2014 at 6:08 pm #211346
John Moffat
Keymaster
- Topics: 57
- Replies: 54483
Yes it does – the suspense account is simply a way of keeping track of errors as we find them.
You might find the free lecture on suspense account to be helpful.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.