The separate charge made to the customer is recorded in Sales Day Book in a separate column.

To record such transactions, a container account is opened debiting opening stock of containers, purchases and credited with the amount charged to customers and closing stock of containers.

Expense. There are two reasons why a suspense account could be opened: A bookkeeper is unsure where to post an item and enters it to a suspense account pending instructions A suspense account is a catch-all section of a general ledger used by companies to record ambiguous entries that require clarification. 1.

A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded.

Container accounts.

In this case, the Package Account is opened. A suspense account is a general ledger account in which amounts are temporarily recorded. Meaning of Containers Account: In order to ascertain the profit on sale of package, a Package Stock Account is prepared which records the opening balance in hand and with customers plus the purchases made during the year on the debit side and packages sold, destroyed and scrapped together with the closing balance in hand and with customers on the credit side.

A suspense account is a temporary resting place for an entry that will end up somewhere else once its final destination is determined. Liability.

Container Accounts Returnable Non Returnable NonReturnable Container In such a case container … As soon as possible, the amount (s) in the suspense account should be moved to the proper account (s). Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account (s). … He charges for these container or packages besides charging for the price of the goods. A suspense account could be located in any one of these sections of an organization's chart of accounts: Asset. Suspense Account in the Chart of Accounts. For the accounting purpose container accounts may be defined in to two types. Container Accounts A businessman usually sells his goods in certain container or packages. Definition of Suspense Account. The suspense account is used because the appropriate general ledger account could not be determined at the time that the transaction was recorded. Revenue.

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