BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 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 $ 6,400 Gross Pay for September $ 800 2,100 18,200 112,200 8,000 Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payrol liabiities for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax 80.00 49.60 11.60 141.20 800.00 ICA Social Security ICA-Medicare 6.20% 1.45% 800.00 Total taxes withheld$ View transaction list View journal entry worksheet No Date General Journal Debit Credit Sep 30Salaries expense FICA Social security taxes payable FICA-Medicare taxes payable Salaries payable BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid to its em ployee, 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 $ 800 2,100 8,000 a. 6,400 18,200 112,200 b. C. Assuming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) September earnings subject to tax Employer Payroll taxes Tax Rate Tax Amount 0.00 Journal entry worksheet Record the employer's September 30 payroll taxes expense and its related liabilities Note: Enter debits before credits. Date General Journal Debit Credit Sep 30 Record entry Clear entry View general journal BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 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 $ 6,400 Gross Pay for September $ 800 2,100 18,200 112,200 8,000 Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payrol liabiities for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax 80.00 49.60 11.60 141.20 800.00 ICA Social Security ICA-Medicare 6.20% 1.45% 800.00 Total taxes withheld$ View transaction list View journal entry worksheet No Date General Journal Debit Credit Sep 30Salaries expense FICA Social security taxes payable FICA-Medicare taxes payable Salaries payable BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid to its em ployee, 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 $ 800 2,100 8,000 a. 6,400 18,200 112,200 b. C. Assuming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) September earnings subject to tax Employer Payroll taxes Tax Rate Tax Amount 0.00 Journal entry worksheet Record the employer's September 30 payroll taxes expense and its related liabilities Note: Enter debits before credits. Date General Journal Debit Credit Sep 30 Record entry Clear entry View general journal
