Answered step by step
Verified Expert Solution
Question
1 Approved Answer
9 art 3 of 3 Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) BMX
9 art 3 of 3 Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. nts eBook a. b. Gross Pay through August 31 $ 5,700 2,600 123,300 Gross Pay for September $1,800 2,700 9,200 Hint Ask Exercise 9-7 Payroll-related journal entries LO P3 eferences Assuming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started