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Food Service Manager Exam Prep

Category - Management

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A hospital foodservice has just purchased a new steam-jacketed kettle for $16,000. The salvage value for the kettle is $2000, and its expected usable life is 10 years. What is the yearly depreciation for the kettle?

$500
$1000
$1400
$ 2600

Explanation

Answer: C - The yearly depreciation for the kettle is determined using the following formula:
cost of equipment - salvage value =
years of life

$16000-$2000 = $1400
10

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