share suspense account

what is a share suspense account. and how will treat this account?

Replies (11)

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.


in wich case it as to be creatd?

any case ...

 

no such criteria

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

Very Well Explained by Ayush And Janak. Agree

Thank you guys

Thanks ayush and janak, m also understanding this concept.

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...

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...

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...

profit and loss suspense account? under what heading does it come in d balance sheet? Or do we write a foot note instead?

will this share Suspense account be the part of net worth??

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