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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137.700 paid to its employee, and FICA Medicare taxes are
BMX Company 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 taxes are 06% and SUTA taxes are 5.4% of the first $7,000 paid to its employee Gress Pay through August 11 $5,200 2,200 Grill Pay For September $1,00 2,300 9,700 Exercise 9-8 (Algo) Payroll-related journal entries LO P2 Assuming situation (a, prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities fo this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period Complete this question by anturing your answers in the tabs below. Taxes to be Withheld from Gray The employee's federal income taxes withheld by the employer are $80 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee Note: Round your arasers to 2 decimal places Taxes to be Withheld From Gross Pay (Employee-Paid T Federal income tax September Earnings Subject to Tax Tax Rate Tax Amount 80.00 General Journal >
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