12. Working capital is current liabilities divided by current assets a. b. current assets divided by current liabilities current liabilities minus current assets current assets minus current liabilities c. d. 13. A company has total assets of $300,000, current assets of $100,000, total liabilities of $200,000 and current liabilities of $80,000, their current ratio is equal to a. 2:1 c. 8:1 d. 3:1 14. If the market interest rate is 10%, $10,000, 12%, 10-year bond, that pays interest semiannually would sell at an amount a. less than face value b. equal to face value c. greater than face value d. that cannot be determined 15. A $1,000 face value bond with a quoted price of 96 is selling for a. $1,000 b. $960 c. $1,096 d. $96 16. A company does not segregate sales and sales tax at the time of sale. The register total is equal to $127,200 with a 6% sales tax rate. The portion of this amount charged to sales is a. $120,000 b. $119,568 c. $7,200 d. $7,632 17. A company takes out a $12,000, 12%, 1 year notes payable from the bank. At maturity what is the total amount that the company will need to pay? a. $12,000 b. $13,440 c. $1,440 d. $1,200