1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
oee [108]
3 years ago
13

Caruso Company's SUTA rate for next year is 2.9% because its reserve ratio falls in its state's 8% to less than 10% category [(c

ontributions – benefits paid) ÷ average payroll = $93,500 ÷ $971,500 = 9.62%]. If the next category (10% to less than 12%) would give Caruso a lower tax rate of 2.3%, what would be the amount of the voluntary contribution needed to get Caruso to that next category? $
Business
1 answer:
zaharov [31]3 years ago
5 0

Answer:

voluntary contribution  $97150

Explanation:

data provided:

tax rate: 2.3%

reserve ratio- 8-10%

average payroll = $971,500

Assume voluntary contribution ="X "

From the information given in the question we have

\frac{X}{971500} = 10%

here we have taken max reserve ratio  i.e. 10%

"X" = 971500*0.10

       = $97150

we know that, from the question present contribution minus benefit is equal to $93,500

hence, extra contribution = 97150 - 93500 = $3650

extra contribution = $3650

You might be interested in
Shirley qualifies for a $12,000 auto loan and chooses a 36-month loan term versus a 60-month loan term. How will the shorter ter
Lyrx [107]
The right answer for the question that is being asked and shown above is that: "B. Shirley's car will appreciate in value." Shirley qualifies for a $12,000 auto loan and chooses a 36-month loan term versus a 60-month loan term. The shorter term of the loan affect Shirley is that her<span> car will appreciate in value.</span>
6 0
3 years ago
Read 2 more answers
Assume that you have been hired as a consultant by CGT, a major producer of chemicals and plastics, including plastic grocery ba
koban [17]

Answer:

d. 5.14%.

Explanation:

Calculation to determine the best estimate of the after-tax cost of debt.

First step

Based on the information given we would make use of rate formula in excel.

=rate(nper,pmt,-pv,fv)

Where,

nper= coupon every six months for 20 years = 40 coupon payments

Pmt =$1000*7.25%*6/12=$36.25

Pv = $875

Fv =$1000

Let plug in the formula

=rate(40,36.25,-875,1000)=4.28% semiannually

=4.28% *2=8.56% annually

Now let calculate the after tax cost of debt using this formula

After tax cost of debt=8.56%*(1-t)

Where,

t represent tax rate of 40%

Let plug in the formula

After tax cost of debt=8.56%*(1-0.4)

After tax cost of debt=5.14%

Therefore the best estimate of the after-tax cost of debt is 5.14%

8 0
3 years ago
The natural rate of unemployment will help determine
kotykmax [81]
<span>The point of the long-run aggregate supply curve.

I hope this helps!
</span>
4 0
3 years ago
Read 2 more answers
Company A has a shorter Average Collection Period than Company B using the formula 365 / (Credit Sales / Average AR Balance). Wh
Irina-Kira [14]

Answer:

Statement B is correct

Explanation:

Provided Information that,

Company A has shorter Average Collection Period than Company B,

Average Collection Period refers to the period in which the cash is collected from debtors.

Thus in the given statements only statement B states that Company A is more efficient in collecting receivables from debtors, thus it is the correct statement.

Statement A is wrong as Company A has less Average Collection Period, thus it's credit sales percentage would be higher than Company B.

Statement C which states about generating revenue is not correct as the company might have cash sales.

Statement B is correct

3 0
3 years ago
A wool​ suit, discounted by 60 % for a clearance​ sale, has a price tag of $ 620. What was the​ suit's original​ price?
never [62]

Answer:

$1,550

Explanation:

Given that

Price tag = $620

Discount percentage = 60%

By taking the information,

The computation of the suit original price equal to

= Price tag ÷ (1 - discount percentage)

= $620 ÷ (1 - 0.60)

= $620 ÷ 0.40

= $1,550

Therefore, the suit original price is $1,550 after considering the discount percentage and the price tag.

6 0
3 years ago
Other questions:
  • The only income Ramon needs to report on his Schedule C is his income from Form 1099-K, Payment Card and Third Party Network Tra
    8·1 answer
  • What type of sales pitch you would use to try in convince that person to purchase a product
    5·1 answer
  • As Nick walks into Mesa Cycles, a local bike shop, he feels at ease owing to the decent lighting and soothing background music o
    15·1 answer
  • Borrowers tend to prefer ________ to ________, whereas lenders prefer ________. arms; fixed-rate loans; fixed-rate loans fixed-r
    7·1 answer
  • How do price changes drive markets toward equilibrium?
    5·1 answer
  • E14-18 Note with unrealistic interest rate; lender; amortization schedule. Amber Mining and Miling, Inc., contracted with Truax
    15·1 answer
  • You own a local coffeeshop. recently, you noticed that customers were doodling on your white paper cups. intrigued, you set up a
    11·1 answer
  • 1] Using the business idea shown in the extract, discuss in a practical way, how FIVE (5) different techniques of
    8·1 answer
  • The Laffer curve shows that Group of answer choices at some specific tax rate, tax revenue is maximized. tax revenue is constant
    14·1 answer
  • Explain what the time period assumption means.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!