Question

what is an account called in which the amount of difference of two sides of trail balance is transferred temporarily ?​

Answer 1

Answer:

Suspense account is a temporary account is created when there is a disagreement in the debit and credit column of the trial balance after carrying forward all ledger account balances and errors are not detected at the right time, then the trial balance is equalized by transferring the difference of the two sides in this account, so as to proceed further and prepare final accounts.

Answer 2

Answer:

Suspense Account

When Trial Balance does not agree, i.e., when the total of the debit column does not match that of the credit column, then the difference of the Trial Balance is transferred to a temporary account in order to avoid delay in preparation of the financial statements. This temporary account is termed as Suspense Account.