Question

Amrit prepared his Trial Balance on 31st March, 2019, which did not match. What step should he take to proceed further?

Answer 1

He should open Suspense Account and transfer the difference in the Trial Balance on the debit side of the Suspense Account (if the credit side of the Trial Balance exceeds the debit side) or on the credit side of the Suspense Account (if the debit side of the Trial Balance exceeds the credit side).