Eagle Corp. purchased a new piece of equipment on January 1,…

Eagle Corp. purchased a new piece of equipment on January 1, 2024.  The equipment had a list price of $90,000, however the seller agreed to allow Eagle Corp. to pay for the equipment in 8 yearly installments of $14,000 on December 31 of each year.  Assuming the note incurs interest at 6% annually, what amount should Eagle Corp. debit the equipment account for on the date of purchase?  You must use the honorlock calculator to solve the problem. (round to the nearest dollar).   Answer:  $_______

Eagle Corp. needs to raise $2,200,000. The corporation plans…

Eagle Corp. needs to raise $2,200,000. The corporation plans to sell 5%, 10-year bonds at the face value of $2,200,000 on January 1 of the current year. Eagle Corp. currently has 120,000 shares of stock outstanding and will generate net income of $1,200,000 in the current year. The $2,200,000 from the bond sale is expected to generate additional income of $1,000,000 before interest and taxes for the current year. The income tax rate is 20%. What are the earnings per share for the current year after consideration of the sale of the bonds? You must use the honorlock calculator to solve the problem. (Round your final answer to the nearest penny.)

Eagle Corp. purchased a new piece of equipment on January 1,…

Eagle Corp. purchased a new piece of equipment on January 1, 2024.  The equipment had a list price of $80,000, however the seller agreed to allow Eagle Corp. to pay for the equipment in 8 yearly installments of $12,000 on December 31 of each year.  Assuming the note incurs interest at 12% annually, what amount should Eagle Corp. debit the equipment account for on the date of purchase? You must use the honorlock calculator to solve the problem. (round to the nearest dollar).   Answer:  $_______