22. The current ratio is a measue of a company's 14. Asset utilization. b. Prosftability. c. Retum on itvestrnent. d. Liquidity. 23. Oa March 1, 2020, ABC Company borrosas $80,000 by signing ant 8-mosab note payable that changes an annual interest mite of 6 percent. All interes is payabie it maturity. The corspany's June 30 balance sheet will include an inverest payable labitity of a. \$0. b. $1,200. c. $1,600. d. $3,000. 24. Which of the following transactions affects owners" equity? a. A founder of a new company contributes a patent in exchange for comsmon saock. b. The company borrows 52,000 from Ciri Bank and signs a 3 momh note payable. c. The company purchuses stpplies on account from Oftice Depot. d. The comspany collects cash of $100.000 from custorners for future services- 25. A company sells $10,000 of merehandise 10 a customer using a V1SA credit card. V1SA charges a service fee of 3% of the sales amount. The journal entry for this transaction will ithelude: a. A credit to sales revenue for $10,000 b. A debit to service fee expense of $300 c. A debit to credit eard receivables of $9,700 d. All of the above. 26. A dividend is: a. A distribution to investors from the retained eamings of the company. b. A repayment to a lender, such as a bank. c. A repayment of investors' money when a company goes out of business. d. Money received from investors. 27. A company would not repurchase its shares ins treasury stock a. In order to reissue shares to employees per compensation plans. b. To increase the company's camings per share. c. To hold as an asset. d. To have additional shares available 10 use in acquisitions of other companies. 28. The face value of a bond is: a. The amount payable at the maturity date. b. The amount used to calculate cash interest payments. c. The par value of the bond. d. All of the above are correct