Errors and the suspense account
When the trial balance will not agree: park the difference in a suspense account, find the errors, clear it with journals and redraft the trial balance.
See the first roomErrors that stop the trial balance agreeing
Rooms in this module
How this works
Each room answers one problem. A task is a few lines of reading, then questions you answer in the books: post to an account, type a figure, sort, match or write a journal. Every answer is marked at once, with the rule behind it. There are no videos.
Words in this module
- Suspense account
- A suspense account is a temporary account that holds the difference when a trial balance does not agree.
- Trial balance
- A trial balance lists every account balance in two columns, debit and credit. If the bookkeeping is right, the totals agree.
Questions
How many rooms and questions are in Errors and the suspense account?
5 rooms and 43 questions. Every question is marked at once.
How long does it take?
About 50 minutes in all. A room takes 8 to 12 minutes, so you can do one at a time.
Is it free?
No. These rooms need Premium. Each room shows the start of its first task before you pay.
What should I do first?
Errors the trial balance hides. It is the module before this one in Journals, errors and control accounts.