Question

Why suspence account is closed

Answer 1

Answer:

Trial Balance Suspense Accounts

The suspense account is listed on the trial balance under the Other Assets heading. It remains there until the reasons for the imbalance are discovered and corrected. ... Once you find the reason for the trial balance and correct it, the account is closed and removed from the trial balance.

Answer 2

Answer:

Trial Balance Suspense Accounts

• Trial Balance Suspense AccountsThe suspense account is listed on the trial balance under the Other Assets heading. It remains there until the reasons for the imbalance are discovered and corrected. ... Once you find the reason for the trial balance and correct it, the account is closed and removed from the trial balance