alleryStart learning →Debit total is Rs 3,25,000 and credit total is Rs 3,20,000. The difference goes to the suspense account on the
ADebit side
BCredit side
CEither side
DNeither side
Answer & Solution
Correct answer: B. Credit side
Credits are short by Rs 5,000, so Rs 5,000 is credited to suspense to make the totals agree.
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Which entries decrease an account on the right side of the equation, such as a liability?Which of these is a non-current asset?Which is a long-term liability?Claims of the owners on the assets of the business are shown inDebts or future obligations owed to others are recorded inDebtors, cash and stock are examples ofThe general ledger holds a ledger account for each item in theA suspense account is used to