Knowledge Check 04 On December 29, 2015, Patel Products, Inc., sells a delivery van that cost $20,000. The equipment had accumulated depreciation of $16,000 at December 31, 2014. Annual depreciation on this equipment is $2,000 computed using straight-line depreciation. Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the account names and dollar amounts from the drop-down menus.

Depreciation expense $2,000

         To Accumulated depreciation - equipment $2,000

(Being the depreciation expense is recorded)

Explanation:

The journal entry is shown below:

Depreciation expense $2,000

         To Accumulated depreciation - equipment $2,000

(Being the depreciation expense is recorded)

For recording this we debited the depreciation expense as it increased the expenses and credited the accumulated depreciation as it reduced the value of the fixed assets. This both items should be recorded for $2,000

the answer is: c.that person might be arrested and deported

filling w-4 form incorrectly usually would rise suspicions from government's auditors. when they notice such mistakes, they would send their teams to investigate the situation further.

if those investigation teams believe that the incorrectness is done on purpose (with malicious intent), that person can be arrested or deported