A restaurant purchased kitchen equipment on Jan 1, 2015 for $56,000. It is estimated that the equipment will have a $6,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as annual depreciation expense at December 31, 2015 is $5,200 $5,000 $5,600 $6,200

A restaurant purchased kitchen equipment on Jan 1, 2015 for $56.000. It is estimated that the equipment will have a $6,000 salvage value at the end of its 10 -year useful life. Using the straight-line method of depreciation, the amount to be recorded as annual depreciation expense at December 31,2015 is $5,200 $5.000 55,600 $6,200