Explain the reason why the suspense account may have either a debit or credit balance
Explain the reason why the suspense account may have either a debit or credit balance
ANSWER IS!
A suspense account balance is determined by the side of the trial balance which have a shortage. Such that, if the trial balance has the debit totals being more than credit totals, then the suspense account will have credit balance and the vice versa is true
About the Author - Dr Geoffrey Mbuva(PhD-Finance) is a lecturer of Finance and Accountancy at Kenyatta University, Kenya. He is an enthusiast of teaching and making accounting & research tutorials for his readers.
