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Suspense account

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 January 2012 rs 2000 has been shown in trial balance as suspense a/c credit side and in additional information it is given rs 2000 represents cash received for sale of machinery .cost of machinery was rs 5000 and accumulated depreciation 4000 .how to close suspense account and should i also change balances of total machinery and accumulated depreciation or they are already adjusted regarding this.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
12 May 2012 Sale of Machinery A/c Dr. 5,000
To Machinery A/c 5,000

Accumulated Depreciation A/c Dr. 4,000
To Sale of Machinery A/c 4,000

Suspense A/c Dr 2,000
To Sale of Machinery 2,000

Sale of Machinery A/c Dr 1,000
To Profit on Sale 1,000

Profit on Sale A/c Dr 1,000
To P&L A/c 1,000
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