21. The 12 t h period that is when a company's sales activities are at their lowest level is called Intangible asset E Adjunct account physical A Facal yar B Calendar year C. Natural business year D Accounting period Enterim period 27. Prior to recording adjusting entries, the Office Supplies accort had a 3359 debit balck count of the supplies showed $105 of m ed supplies ilable. The required adjusting entry A. Debit Office Supplies 5105 and credit Office Supplies Expense $105. B. Debit Office Supplies Expense $105 and credit Office Supplies $105. C Debit Office Supplies Especte $254 and credit Office Supplies $254. D Debit Office Supplies $254 and credit Office Supplies Expense $254. E. Debit Office Supplies 5105 and credit Supplies Expense $254. 22. Adjusting entries A Affect only income statement accounts B. Aflect only beince sheet accounts C Affect both income statement and balance sheet accounts D. Affect only cash flow statement accounts E Affect only equity accounts Page 5 28. If throughout an accounting period the fees for legal services paid in advance by clients are recorded account called Uneared Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been samedi A. Debit Cash and credit Legal Fees Eamed B. Debit Cash and credit Uneamed Legal Fees P. Debit Uneared Legal Fees and credit Legal Fees Eamed D. Debet Legal Fees Eamed and credit Use med Leral Fees E Debit Uneamed Legal Fees ad credit Accounts Receivable 33. The sets section of a classified balance sheet usually includes: A. Current assets, long-term imestants, plant s , and stangible et B Current assets. lobe-term assets, revenues, and intensible et C Current assets, lore-termi n ants, plant assets, and equity D. Current liabilities, long-term investments, plates, and intangibles E Current sets, Listduties, plant assets, and intangible assets 34 In the process of completing a work sheet, you determine that the Income Statement debit column Focus