Economics Answers

a. Complete Part 2 of Form 940 based on the following information: (Round your answers to two decimal places, if necessary.)
Total payroll for the year $913,590
Payroll to employees in excess of $7,000 $421,930
Employer contributions into employees' 401(k) plans $23,710
Part 2: Determine your FUTA tax before adjustments. If any line does NOT apply, leave it blank.
Retirement/Pension
Subtotal $445,640
Total taxable FUTA wages $467,950
FUTA tax before adjustments $2,807.70
If the employer is located in California, which has a credit reduction of 2.1%, what would be the amount of the credit reduction?

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Faruga Company had FUTA taxable payrolls for the four quarters of $38,400; $29,600; $16,500; and $8,900, respectively. What was the amount of Faruga’s first required deposit of FUTA taxes?

In Part 5 of Form 940, Peterson Company reported FUTA tax liabilities as follows:

First quarter: $397.50

Second quarter: $209.10

Third quarter: $274.50

Fourth quarter: $262.20

List the amounts and the dates of each required FUTA tax deposit:

1st quarter dates 4/05, 4/15, or 4/30

2nd quarter dates 7/05, 7/15, or 7/31

3rd quarter dates 10/05, 10/15, or 10/31

4th quarter dates 1/05, 1/15, or 1/31

3. Band Ltd issued debentures with a face value of N$1 000, which mature in exactly five years from today’s date. The latest interest payment has just been received. The interest is payable at 10% per annum on the face value of the debentures, on a quarterly basis. The market yield for the debentures is quoted as 12% per annum.

The value of a Band Ltd debenture is:

a) N$939
b) N$993
c) N$1 076
d) N$1 000

Suppose the average consumer divides up his expenditure between bread, meat, milk and cigarettes in the ratio 4:3:2:1. During the course of a year, the price of bread falls by 10% while that of meat rises by 20% and those of milk and cigarettes both increase by 10%. What is the increase in the price level during the year?

As the number of substitutes for by a particular good decreases, demand for the good will

When the price of pens is 4,000LBP, Nour buys 20 pens. As the price decreases to 1000, Nour buys 80 pens. In absolute value

The income elasticity of restaurant meals is 0.6. If customers income becomes 300,000 LBP instead of 200,000 LBP , the quantity demanded will

Find the market equilibrium if P=-40+Q and P=80-Qd

Use the following data and draw the demand and Supply graph of gasoline.
Price (per
gallon)
Quantity demanded (millions of
gallons)
Quantity supplied (millions of
gallons)
$1.00 800 500
$1.20 700 550
$1.40 600 600
$1.60 550 640
$1.80 500 680
$2.00 460 700
$2.20 420 720