real and nominal accounts

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Jamie Probst, Drawing

nominal

purchases

nominal

sales

nominal

Jamie Probst, Capital

real

Merchandise Inventory

real

Sales Taxes Payable

real

accounts receivable

real

cash in bank

real

Real account

Asset, liability, and equity accounts; these accounts appear on the balance sheet. Companies do not close real accounts, also called permanent accounts.

Nominal account

Revenue, expense, and dividend accounts; except for dividends, these accounts appear on the income statement also called temporary accounts


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