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Is accumulated depreciation real or nominal account?

Updated: 4/28/2022

Wiki User

∙ 11y ago

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It is a real contra account. The nominal account associated with depreciation is depreciation expense.

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∙ 11y ago

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Continue Learning about Accounting

Is depreciation real or nominal account?

It is a real contra account. The nominal account associated with depreciation is depreciation expense.

Is accumulated depreciation a real or temporary account and why?

It's a real account. Easy way to remember it is by remembering the accounting formula. Assets= Liabilities+ Capital- Withdrawals+ Revenue- Expenses Withdrawals, Revenue and Expenses are temporary and get closed at the end of the accounting cycle. Since Accumulated Depreciation falls under the Assets account and is a contra asset

Is capital account is real account or nominal account?

Real Account

Is Sales Account nominal or real account?

real accounts

Is suspense account a nominal account?

Not necessarily. It can be of any type. Real, Personal or Nominal.

Related questions

Is depreciation real or nominal account?

It is a real contra account. The nominal account associated with depreciation is depreciation expense.

Is accumulated depreciation a real or temporary account and why?

It's a real account. Easy way to remember it is by remembering the accounting formula. Assets= Liabilities+ Capital- Withdrawals+ Revenue- Expenses Withdrawals, Revenue and Expenses are temporary and get closed at the end of the accounting cycle. Since Accumulated Depreciation falls under the Assets account and is a contra asset

Is capital account is real account or nominal account?

Real Account

Is Sales Account nominal or real account?

real accounts

Is suspense account a nominal account?

Not necessarily. It can be of any type. Real, Personal or Nominal.

Liabilities is real accounts or nominal accounts?

nominal account.

Is revaluation account a real account?

yes

Is prepaid insurance account a nominal account?

No, it is a real/permanent account. Insurance expense is a nominal account.

Is unearned revenue nominal account?

no!! =) its a real account

Is inventory a nominal account?

real

Is capital reserve a nominal account or real account?

yes

Definition of nominal real and personal accounts?

A nominal real account represents incomes, gains, expenses, and losses. A personal account represents a person's and organization's expenses.

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