How to open a suspense account
When the trial balance will not agree, the difference is parked in a suspense account. Work out the amount and the side.
Task 1Parking the difference3 questions
If the trial balance does not agree and the errors cannot be found at once, the difference is put in a suspense account. It is a temporary account that makes the two columns equal.
| Line | Debit | Credit |
|---|---|---|
| Total of all the balances | 94,650.00 | 95,130.00 |
The suspense balance goes in the column with the smaller total. If the debits are smaller, it is a debit balance. If the credits are smaller, it is a credit balance.
Task 2A difference the other way4 questions
Task 3An entry with nowhere to go yet3 questions