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Is interest on capital a personal real or nominal account?

Updated: 10/16/2024

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Q: Is interest on capital a personal real or nominal account?

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Continue Learning about Accounting

Is drawings account is Nominal or Personal account?

Drawings Account is a Nominal Account. Nominal accounts record liabilities, expenses, revenues, capital and drawing. Examples of nominal accounts are loan account, sales account, commission received account, salaries account, rent account, capital account, drawings account etc.

Is capital account is real account or nominal account?

Real Account

Is suspense account a nominal account?

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

Is capital reserve a nominal account or real account?

yes

Is prepaid insurance account a nominal account?

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

Related questions

Is drawings account is Nominal or Personal account?

Drawings Account is a Nominal Account. Nominal accounts record liabilities, expenses, revenues, capital and drawing. Examples of nominal accounts are loan account, sales account, commission received account, salaries account, rent account, capital account, drawings account etc.

Is capital account is real account or nominal account?

Real Account

Is suspense account a nominal account?

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

Is capital reserve a nominal account or real account?

yes

Is prepaid insurance account a nominal account?

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

Is outstanding salary nominal account?

no,it's personal account.

Is A capital account considered a nominal account?

yes it it is because income

How do you calculate nominal interest rate?

Nominal interest, is the amount of interest on a loan or investment that does not take into account inflation; it's the amount of interest listed on the loan or bond.

Is investment ac is nominal account?

Investment A/C is personal account

Is bad debts a personal account or nominal account?

Bad debts accounts is a nominal account shown in income statement and use to reduce the accounts receivable amount.

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.

Is loan account real nominal or personal?

Loan account is a personal account in nature so increase with debit and decrease with credit.

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