BMX Company has one employee
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 Gross Pay for September Gross Pay through August 31 $ 5,800 2,250 122,600 $ 2, 10e 2,350 c. 8,500 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations and (Round your answers to 2 decimal places.) September Earnings Subject to Tax Tas Rate Tax Amount FICA Social Security FICA Medicare FUTA TUTA September ning Tax Rate Tax Am FICA Social Security FICA Medicare September Earnings os Tax Rate 486 of 10 = e here to search O e Required information 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 Dald to its employee Gross Pay through August 31 $ 5,000 2,250 122,600 Gross Pay for September $ 2,180 2,350 8.500 Assuming station la prepare the employer's September 30 journal entries to record salary expense and its related payroll abilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period Complete this question by entering your answers in the tabs below. General Withheld From The employee's federal income taxes withheld by the employer are $90 for this pay period. Compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be withheld Froen Gross Pay imployee Paid Taxes) September Earnings Tax Rate Tax Amount Subject to Tak Federal income General Journal > Required Information The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 62% of the first $128.400 paid to its employee and FICA Medicare taxes are 145% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 54% of the first $7,000 paid to its employee Gross Pay through August 31 $ 5,00 2.250 122,600 Gross Pay for September $2,100 2,350 8,500 c. Assuming situation la prepare the employer's September 30 journal entries to record the envoyer payroll taxes expense and its related liabilities Complete this question by entering your answers in the tabs below. Payroll Taxes Compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate General Journal > o e = 1 pe here to search
