A restaurant chain purchased a set of kitchen equipment on December 31, 2021 that costs $...

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A restaurant chain purchased a set of kitchen equipment on December 31, 2021 that costs $ 48,000 with cash and fully depreciates over five years for accounting purposes. The equipment is depreciated using the straight-line method over the estimated useful life. a. How much depreciation expense would the restaurant chain record each year? b. What would be the book value of the machine on a balance sheet prepared at year-end: i. 2022 ii. 2028 iii. 2024 c. Record the purchase of the kitchen equipment in 2021 in a transaction table. Remember your set of entries must satisfy the A form of the Duality Equation. A restaurant chain purchased a set of kitchen equipment on December 31, 2021 that costs $ 48,000 with cash and fully depreciates over five years for accounting purposes. The equipment is depreciated using the straight-line method over the estimated useful life. a. How much depreciation expense would the restaurant chain record each year? b. What would be the book value of the machine on a balance sheet prepared at year-end: i. 2022 ii. 2028 iii. 2024 c. Record the purchase of the kitchen equipment in 2021 in a transaction table. Remember your set of entries must satisfy the A form of the Duality Equation.