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 through August 31					Gross Pay for September
a.		$	5,300				$	2,600
b.			2,400					2,500
c.			122,900					8,800

Assuming situation (a), prepare the employers September 30 journal entries to record the employers payroll taxes expense and its related liabilities. 1. Compute the payroll taxes expense. (Round your answers to 2 decimal places.)

2. Prepare the employers September 30 journal entries to record the employers payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.)

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 paid to its employee. Gross Pay through August 31 $ 5,300 2,400 122,900 Gross Pay for September $ 2,600 2,500 8,800 0 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 Tax Rate Tax Amount September earnings subject to tax 2,600.00 2,600.00 0.00