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Is depreciation real or nominal account?

Updated: 9/15/2023

Wiki User

∙ 15y ago

Best Answer

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

Alek Batz ∙

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∙ 2y ago

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Continue Learning about Accounting

Is accumulated depreciation real or nominal account?

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

Is depreciation account nominal account?

yes ! it comes under nominal account !!

Is depreciation expense is nominal account?

Yes depreciation is a nominal account and used to allocated the portion of fixed cost to income statement as an expense for that specific period.

What is the Difference between accumulated depreciation and depreciation?

Depreciation expense is a nominal account which will goin to net income at the end of term. Accumulated depreciation is a contra account with capital assets which shows up in balance sheet.

Is capital account is real account or nominal account?

Real Account

Related questions

Is accumulated depreciation real or nominal account?

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

Is depreciation account nominal account?

yes ! it comes under nominal account !!

What type of account is depreciation account?

Nominal A/c

Is depreciation expense is nominal account?

Yes depreciation is a nominal account and used to allocated the portion of fixed cost to income statement as an expense for that specific period.

What is the Difference between accumulated depreciation and depreciation?

Depreciation expense is a nominal account which will goin to net income at the end of term. Accumulated depreciation is a contra account with capital assets which shows up in balance sheet.

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

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