Ask Experts Questions for FREE Help !
Ask
    ajijah's Avatar
    ajijah Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 16, 2009, 12:51 AM
    Trial Balance
    Why is the trial balance having credit side as an expenses? I have to create suspense account to balance off... please help
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Feb 16, 2009, 03:24 AM

    These emanate from refunds received
    From expenses.
    You do not need to create suspense accounts to deal with them.
    What you should do is net them against the
    Debits that are shown as expenses.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Trial Balance & Post Close Trial Balance [ 5 Answers ]

I’m struggling with both trial balance and post close trial balance. From my understanding the post trial balance should include all items that would show on the balance sheet right? It would show total assets and total liabilities right? The assets and expenses would be under debit and...

Trial Balance in balance - but Fianancial Statements is not matching [ 2 Answers ]

Hi... I have a question My Trial Balance is "in balance" all matched up nice nice... But - when transferring the information on to the Fiancial Statements its not matching - This is a question for home work the CRUNCHER is... no back up provided in the question no journals no ledger... ...

Trial Balance & Adjusted Trial Balance [ 1 Answers ]

I have a question that doesn't seem to make too much sense. Can anyone explain this to me? Which of the accounts below would appear on an adjusted trial balance but probably would not appear on the trial balance? -Fees Earned -Accounts Receivable -Unearned Fees -Depreciation Expense The...

Trial Balance and Balance Sheet of an airline company [ 1 Answers ]

I would like to get the idea about the trial balance andbalance sheet of an airline company. Can any one help me with that? Thanks, Shanthi

View more questions Search