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As of December 31, ABC Ltd had $800 of prepaid Insurance remaining As of December 31, ABC Ltd had $600 of office supplies remaining Depreciation
As of December 31, ABC Ltd had $800 of prepaid Insurance remaining As of December 31, ABC Ltd had $600 of office supplies remaining Depreciation on building is $2,100 annually. Also during the year ABC Ltd purchased a vehicle for $50,000 on account that was completely omitted for the records. The vehicle is expected to have a residual value of $10,000 and a useful life of 5 years ABC Ltd pays its employess on a Friday for weekly salaries.
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