Q317
Suspense account given in the trial balance will be entered in the
A.
Manufacturing account
B.
Balance sheet
AnswerC.
Trading account
D.
Profit and loss account
Answer: Option B
Solution
Answer: Option B
Solution:
Suspense account given in the trial balance will be entered in the Balance sheet. If the Trial Balance does not agree, the difference is put to Suspense A/c. Suspense A/c on credit side of Trial Balance will be entered on the liabilities side of Balance Sheet. Suspense A/c on debit side of Trial Balance will be entered on the assets side of Balance Sheet.