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Eagle Corp. acquired three pieces of equipment in a single purchase. Equipment #1 is appraised at $400,000, equipment #2 is appraised at $300,000 and equipment #3 is appraised at $500,000. Eagle Corp. recorded equipment #2 on their books at the time of purchase at $237,500.  What was the total purchase price of all three pieces of equipment?   Answer:  $_______

On January 1, 2024, Eagle Corp. issued $4 million, 10 year, 8% bonds with interest to be paid annually.  Eagle Corp. issued the bonds for $4,587,200 since the market rate of interest was 6% on the issue date.  What is the total amount of interest expense that Eagle Corp. should report on its December 31, 2025 income statement? (round to the nearest dollar)   Answer:  $_______

Eagle Corp. sold equipment with a book value of $80,000 for a $5,000 loss, sold Eagle Corp. common stock for $60,000, received repayment on a notes receivable for $200,000 (this amount included $20,000 of interest), paid dividends of $40,000, purchased treasury stock for $35,000, purchased a piece of equipment for $100,000 by paying $25,000 in cash and signing a notes payable for the balance, and received dividends in the amount of $20,000.  The net cash inflow from investing activities was:   Answer:  $_______

Eagle Corp. purchased a machine on February 1, 2022, for $200,000.  On December 31, 2023, when the book value of the machine is $190,000, Eagle Corp. checks to see if the machine is impaired.  Due to recent technological advances Eagle Corp. expects the machine to generate future cash flows of $140,000.  If Eagle Corp. estimates the current fair market value of the machine is $120,000 on December 31, 2023, what amount of impairment loss (if any) should be recorded?

Equipment acquired on January 1, 2021, is sold on June 30, 2024, for $14,500. The equipment cost $28,600, had an estimated residual value of $8,000, and an estimated useful life of 5 years. The company operates on a calendar year and the equipment has been depreciated using the straight-line method.  What amount of gain or loss should the company record on their financial statements for the year ended 2024?

On January 1, 2024, Eagle Corp. invests $225,000 in a 6 year certificate of deposit (“CD”) that pays 12% interest compounded quarterly.  How much will Eagle Corp.’s investment be worth at the end of the CD term (6 years).  (Use the appropriate future value factor table to answer the question and round to the nearest dollar).

A company has four types of products in its inventory. The company applies the rule of lower of cost and net realizable value to its inventory at the end of each year as shown below: Product Quantity Cost Net Realizable Value A 15 $ 7   $ 8   B 10   15     14   C 20   8     6   D 15   11     10   The year-end adjustment based upon the information above would include a:

Frederick Douglass 

On January 1, 2024 Eagle Corp. issued $4,000,000, 10 year, 12% bonds.  The bonds pay interest semi-annually.  At the time of issuance the market rate of interest is 8%.  Calculate the issue price of the bond.  (Use the appropriate factor tables and round to the nearest dollar).   Answer:  $_______

Hawthorne tried to disassociate himself from his family because of