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BMX Company has Employee A. FICA Social Security taxes are 6.2% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45%

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BMX Company has Employee A. FICA Social Security taxes are 6.2% of the first $117,000 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 2.9% of the first $7,000 paid to its employee. Gross Pay through August Gross Pay for September S 6,440 5 805 Prepare the employers September 30 journal entries to record the empioyer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) Employee A: Employer Payroll taxes FICA-Social Security Tax Rate Tax Amount subject to tax 6.20% 1 . 45% 0.60% 2.90% FUTA SUTA 0.00 view transaction list v view general j Journal Entry Worksheet Record the employer's September 30 payroll taxes expense and its related liabilities. Date General Journal Debit Credit Sep 30 Enter debits before credits done r entry

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