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Share suspense account is a temprorary a/c created, to transfer any receipts on shares issue or re-issue (in case of forefeiture) is case of a pending decision regarding that receipt.
Eg: when re-issue is made in case of a forfeiture of share, journalise that transation as
Bank a/c Dr.
To share suspense a/c
then after decision regarding reissue,
share suspense a/c Dr.
To share capital a/c
balance if any in share suspense will be paid of when it is not alloted...
share suspence a/c Dr.
To Bank a/c
Wiki User
∙ 15y ago
Jasbir Singh
Share suspense account represents application money received on shares, the allotment of which is not yet made.
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How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What is the suspense capital?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
What is suspense account?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
What is suspense account and method of rectify error?
what is suspense account ? please give me answer in detail... what is suspense account ? please give me answer in detail... suspense is when you make people wait for something before they tell you what it is
Is suspense account is a nominal account?
Nominal accounts are closed at the end of each accounting year. In that sense, surely Suspense Account is a Nominal Account.
What is suspence account?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
What is the purpose of profit and loss suspense account?
The suspense account is a balance used to force the trial balance to agree. Once the errors have been located the respective amounts are debited or credited out of the suspense account until the balance is zero.
Suspense account is a profit or loss?
It's neither. The suspense account is a balance used to force the trial balance to agree. Once the errors have been located the respective amounts are debited or credited out of the suspense account until the balance is zero.
What is the nature of debenture suspense account?
Debenture Suspense is adjustment account which is prepared at the time of issue of debenture as collateral security to record the collateral issue.
How suspense account squared off?
Suspended account squared
What is a share in financial accounting and what are the journal entries for the shares?
When applications received Debit Cash account Credit Share applicant account [debit] Share applicant account [Credit] Share application account When share allocated [Debit] Share application account [Credit] share capital account
Suspense Account format?
suspence account are temporary holdling account for financial information on general ledger
