Suspense account, Accounting Basics

Which type of error would cause an entry in the suspense account?

A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870.

B. Carriage outwards is credited to the carriage outwards account but correctly accounted for in the cash book.

C. Discounts allowed are debited to the discounts allowed account and credited to the purchases ledger control account.

D. Repairs to a vehicle are debited to the vehicles account.

Posted Date: 2/13/2013 12:14:52 AM | Location : United States

Related Discussions:- Suspense account, Assignment Help, Ask Question on Suspense account, Get Answer, Expert's Help, Suspense account Discussions

Write discussion on Suspense account
Your posts are moderated
Related Questions
Accrual Concept The accrual concept makes a distinction among the receipt of cash, and the right to obtain it, and the payment of cash and the legal obligation for pay it. In

Assume we are a trading company giving devices and sometimes after sales service. when any fault came we just replace the hardware from another defective device and getting the pay

Contain the relevant authoritative literature on accounting for investments in held-to-maturity securities using the FASB's Codification Research System. What is the specific citat

Explain What do you recognized by Open Item Managed Account? Ans) Open item management make sure that all items that have not yet been cleared are available in the system. Only

1. Mama's Fried Chicken bought equipment on January 2, 2010, for $15,000.  The equipment was expected to remain in service 4 years and to perform 3,000 fry jobs.  At the end of the

Q. Underlying assumptions or concepts of accounting? The major underlying assumptions or concepts of accounting are (a) business entity (b) going concern (continuity) (c) money

The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various  types  of coffee  machines, grinders,  filters and beans. The business has two dir

Q. Explain about statement of cash flows? Retained earnings usually consist of the accumulated net income of the corporation minus dividends distributed to stockholders. We exa

How to do a trial Balance                     Particulars                            Amount Dr.                       Amount Cr. In

Why to and by using in journal, trading a/c, p&l a/c and ledger?