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As well as the Journal entry? Requlred Information Use the following information for the Exercises below. (Algo) [The following informotion opplies to the questions disployed
As well as the Journal entry?
Requlred Information Use the following information for the Exercises below. (Algo) [The following informotion opplies to the questions disployed below.] BMX Compony has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA toxes are 0.6% and SUTA toxes are 5.4% of the first $7,000 poid to its employee. Exerclse 9.9 (Algo) Payroll-related Journal entrles LO P3 Ssuming situation (a), prepore the employer's September 30 journal entry to record the employer's payroll taxes expense and its elated liabilities. Complete this question by entering your answers in the tabs below. Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.)Step by Step Solution
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