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What is the pH of a buffer that consists of 0.45 M CH3COOH and 0.35 M CH3COONa? Ka = 1.8 x 10-5

Eagle Corp. purchased a new piece of equipment on January 1, 2024.  The equipment had a list price of $100,000, however the seller agreed to allow Eagle Corp. to pay for the equipment in 8 yearly installments of $15,000 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? (Round to the nearest dollar).   Answer:  $_______

Eagle Corp. had accounts receivable of $625,000 and an allowance for uncollectible accounts of $46,500 just prior to writing off as worthless an account receivable for Bobcat Inc. of $6,000. Calculate the net realizable value of accounts receivable as shown by the accounting records after the write-off.   Answer:  $_______

Eagle Corp. sold equipment with a book value of $80,000 for a $5,000 loss, sold Bobcat Inc. common stock for $60,000, received repayment on a notes receivable for $150,000 (this amount included $15,000 of interest), paid dividends of $40,000, purchased treasury stock for $35,000, purchased a piece of equipment with a fair market value of $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. issues a $1,267,948, 10%, 4 year notes payable on January 1, 2024.  The note will be repaid in four annual installments of $400,000, each payable at the end of the year (i.e. $400,000 at the end of 2024, $400,000 at the end of 2025, $400,000 at the end of 2026, and $400,000 at the end of 2027).  What is the amount of interest expense that should be recorded by Eagle Corp. in the second year (i.e. on the income statement for the year ended December 31, 2025)?  (Round to the nearest dollar).   Answer:  $_______

Eagle Corp. had accounts receivable of $525,000 and an allowance for uncollectible accounts of $32,500 just prior to writing off as worthless an account receivable for Bobcat Inc. of $5,000. Calculate the net realizable value of accounts receivable as shown by the accounting records after the write-off.   Answer:  $_______

On January 1, 2024, the beginning balance in the Warranties Liability account was $75,000. Cash sales for the year totaled $300,000 and credit sales totaled $900,000.  The company estimates warranty costs at 6% of sales. During the year, $65,000 was paid to settle warranty claims. As a result of these transactions, what is the amount of warranties liability that is reported on the company’s 2024 year end balance sheet?   Answer:  $_______

Eagle Corp. is involved in a lawsuit. It is reasonably possible that the jury will find in favor of the plaintiff and Eagle Corp.  will owe ten million dollars. What is the appropriate reporting of this lawsuit and what is the effect on the balance sheet?

Eagle Corp. paid $1,400,000 for a group purchase of land, a building, and equipment.  At the time of the acquisition, the land had a current market value of $400,000, the building had a current market value of $800,000, and the equipment had a current market value of $300,000.  In what amount should the equipment account be debited? (round to the nearest dollar)   Answer:  $_______

Eagle Corp. purchased a patent from Bobcat Inc. on January 1, 2024 for $300,000.  Bobcat Inc. had used the patent for eight years prior to selling it to Eagle Corp.  Assuming Eagle Corp. plans to use the patent for its full legal life, what amount of amortization expense would Eagle Corp. record on its 2024 income statement?