After preparation of the Trial balance on the Total debit side an amount of Rs.500 is short. The difference will be
A. Debited to Suspense a/c
B. Credited to Suspense a/c
C. Adjusted with any other a/c
D. No entry is required
Answer:A
After preparation of the Trial balance on the Total debit side an amount of Rs.500 is short. The difference will be
A. Debited to Suspense a/c B. Credited to Suspense a/c C. Adjusted with any other a/c D. No entry is required
Explanation: A suspense account will be created to temporarily store the uncertain transactions.