21. On September 1, 201X, the company received $4,800 in advance for six-month's worth of services to be provided evenly over the six-month period. The amount of the adjusting entry on December 31, 201X, to adjust the unearned revenue account would be (note that negative numbers will decrease the account balance): A) ($1,600) B) $1,600 C) ($3,200) D) $3,200 22. Assume the balance in the Supplies account is $2,500, but it should be $1,500. The adjustment would include which one of the following? A) Increase Supplies by $1,000. B) Increase Supplies Expense by $1,000. C) Increase Supplies Expense by $1,500. D) Increase Equity by $1,000. Immediately after closing, all Revenue accounts, all Expense accounts, and the Dividend account will have a zero balance. A) True B) False 23. 24. Current assets typically include all of the following EXCEPT: A) Cash B) Accounts Receivable C) Inventory D) Intangible Assets 25. Which one of the following ratios of is the best measure of a company's short-term liquidity? A) Debt-to-Equity Ratio B) Inventory Turnover Ratio C) Current Ratio D) Times-Interest-Earned Ratio