what is a share suspense account. and how will treat this account?
11 Replies
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 04 December 2010
Suspense Account is Any account That at This Time Accountant Cudnt Identify Which to Debit Which to Credit.
& Create a Suspense Account on Temprorary Basis & Reverse The Same After Identifying It.
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 04 December 2010
any case ...
no such criteria
Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 04 December 2010
Very Well Explained by Ayush And Janak. Agree
Thank you guys
CA Kanchan Jha
(Finance & Accounts Executive)
(493 Points)
Replied 04 December 2010
Thanks ayush and janak, m also understanding this concept.
Faiz Ahmed
( Article Trainee)
(1731 Points)
Replied 04 December 2010
| Originally posted by : janak | ||
 |
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. XXX To share suspense a/c XXX then after decision regarding reissue, share suspense a/c.......................... Dr. XXX To share capital a/c XXX balance if any in share suspense will be paid of when it is not alloted... share suspence a/c.............................Dr. XXX To Bank a/c XXX as much i know , i have told....ok |
 |
Thnx Janak for updation...
(Guest)
| Originally posted by : janak | ||
|
|
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. XXX To share suspense a/c XXX then after decision regarding reissue, share suspense a/c.......................... Dr. XXX To share capital a/c XXX balance if any in share suspense will be paid of when it is not alloted... share suspence a/c.............................Dr. XXX To Bank a/c XXX as much i know , i have told....ok |
|
thanks janak bhai/behan...
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 08 December 2010
| Originally posted by : janak | ||
 |
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. XXX To share suspense a/c XXX then after decision regarding reissue, share suspense a/c.......................... Dr. XXX To share capital a/c XXX balance if any in share suspense will be paid of when it is not alloted... share suspence a/c.............................Dr. XXX To Bank a/c XXX as much i know , i have told....ok |
 |
thanks janak bhai/behan...
saloni khatri
(student)
(21 Points)
Replied 24 September 2012
profit and loss suspense account?
under what heading does it come in d balance sheet? Or do we write a foot note instead?
RAKESH JAIN
(CA)
(21 Points)
Replied 30 August 2014
will this share Suspense account be the part of net worth??
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