Suspense Account

Question 1

When is it used?

Answer 1

When total debits and credits do not equal the same in the trial balance

Question 2

If debits = more than credits then the suspense account will have a …. balance

Answer 2

credit

Question 3

If credits = more than debits then the suspense account will have a …… balance

Answer 3

debit

Question 4

Step 1:

Answer 4

start with entry that is not in the suspense account

Question 5

Step 2:

Answer 5

Enter other half of double entry into the suspense account.

Question 6

Errors not revealed by trial balance:

Answer 6

error of original entry, error of omission etc