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$1$ The following information comes from the financial records of Thatcher Company. Using this information, what is Thatcher's CURRENT RATIO?

$\backslash$table$[[$Accounts Payable,$210],[$Accounts Receivable,$1,600],[$Capital Stock,$120],[$Cash$,50],[$Cost of Goods Sold,$300],[$Inventory$,190],[$Long$-$term Debt,$1,820],[$Net Income,$140],[$Property$,$ Plant, and Equipment $($net$),700],[$Retained Earnings,$390],[$Sales$,1,500],[$Market value of shares,$3,000]]$

$1\mathrm{.}00$

$0\mathrm{.}79$

$7\mathrm{.}86$

$8\mathrm{.}76$

$2$ As of December $31,20$X$1,$ Mantua Company has the following three loans payable scheduled to be repaid in February $20$X$2.$

Loan A: Loan A is for $$10,000.$ Mantua intends to repay Loan A when it comes due in February $20$X$2.$ In September $20$X$2,$ Mantua intends to get a new loan for $$8,000$ from the same bank.

Loan B: Loan B is for $$15,000.$ Mantua intends to refinance Loan B$.$ The refinancing contract, for $$18,000,$ will be signed in May $20$X$2,$ after the financial statements for $20$X$1$ have been released.

Loan C: Loan C is for $$20,000.$ Mantua intends to refinance Loan C for $$20,000$ before it comes due in February. The actual refinancing, for $$17,500,$ took place in January $202,$ after the end of the $20x1$ fiscal year, but before the financial statements for $20$X$1$ have been released.

As of December $31,20$X$1,$ what is the amount of TOTAL CURRENT LOANS PAYABLE for Mantua Company?

$$45,000$

$$27,500$

$$17,500$

$$25,000$

$3$ On July $1,$ as part of a building purchase, Orangeville Company signed a $30-$year mortgage contract in the amount of $$300,000.$ The interest rate on the mortgage is $6\mathrm{.}00\%$ COMPOUNDED MONTHLY, making the monthly payments $$1,798\mathrm{.}65.$ The first payment is due on August $1$ and the second payment is due on September $1.$ Which one of the following is included in the journal entry to record the SECOND payment, on September $1?$

A DEBIT to Interest Expense of $$1,498\mathrm{.}51$

A DEBIT to Mortgage Payable of $$1,500\mathrm{.}00$

A DEBIT to Mortgage Payable of $$298\mathrm{.}65$

A DEBIT to Mortgage Payable of $$1,498\mathrm{.}51$

$4$ Copperton Company issued bonds with a coupon rate of $8\%($with half of the annual amount of interest paid every six months$)$ and a face amount of $$5,000.$ The bonds mature in $15$ years. The market interest rate for bonds with the same degree of riskiness is $12\%$ COMPOUNDED SEMIANNUALLY. The Copperton bonds were issued on January $1$ of Year $1.$ Coupon payments are made every six months on June $30$ and on December $31.$ What was the issuance price of these bonds on January $1$ of Year $1?$

$$3,624$

$$5,000$

$$1,778$

$$2,276$

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