23. Pioli Company will receive $800,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $504,136. In how many years will the $800,000 be received? For partial credit, show your work.

Find  .

Baker Company offers an extended (service-type) warranty with the sale of their product.  What is the impact to each of the financial statement categories listed below at the date Baker Company sells the product and related extended warranty?  Ignore the cost of goods sold/inventory entry.

Use the following information for the next four questions: K&E’s Greenhouse, Inc. issued $2,800,000, 5% 10-year bonds on January 1, 2025.  The bonds pay interest semiannually on June 30 and January 1 and are issued to yield 8% (effective rate).  At the date of issuance, the carrying value of the bonds was calculated to be $2,229,215 (i.e., the present value of future cash flows).  K&E Greenhouse, Inc. uses the effective-interest method to amortize any discount or premium on bonds payable.  

Jenks Corporation acquired Linebrink Products on January 1, 2025 for $8,100,000, and recorded goodwill of $1,700,000 as a result of that purchase. At December 31, 2025, Linebrink Products had a fair value of $6,300,000. The net identifiable assets of the Linebrink (including goodwill) had a carrying value of $7,800,000 at that time. What amount of goodwill will Jenks Corporation have on their balance sheet after any impairment is recorded at December 31, 2025?

Assuming K&E’s Greenhouse retired the bonds after only five years for a call price of $2,600,000.  Assuming the carrying value of the bonds was $2,459,355 at the date of retirement, what amount of loss would they record?  Enter $0 if no loss is recorded.

A player must cross 10 hurdles in a hurdle race. The probability that he will clear each hurdle is 0.86. Use StatCrunch to find the probability that he will clear more than 7 hurdles.

22. Anne Carlson started a new job at age 25. She plans to invest $10,000 at the end of each year for the next 10 years and estimates earning a return of 5%. After 10 years of those investments, she expects her financial situation to change, and she will no longer contribute to her investment. If she leaves the investment in her account, what will be the balance of her account after 30 more years assuming the same 5% interest rate? For partial credit, show your work.

A survey is conducted to determine the percentage of students at state universities who change their major at least once. The 95% confidence interval for the percentage of students who change their major is (0.699, 0.861). Complete parts a and b. a. Interpret the meaning of this confidence interval using a complete sentence.   b. Use StatCrunch to find the sample size required to estimate the percentage of students who change major at least once: assume no prior studies were made and we need to be within an error of 2%.

A study shows the number of hours per week school-aged children spent playing computer games is normally distributed with a mean of 10 hours and a standard deviation of 6 hours. Use the HonorLock calculator to find the z score of someone who plays 25 hours per week. Is the z score unusually high?