BMX Company has one employee. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$

paid to its employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. For BMX$,$ its FUTA

taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%$ of the first $$7,000$ paid to its employee.

suming situation $($a$),$ prepare the employer's September $30$ journal entry to record the emplo

es expense and its related liabilities.

Journal entry worksheet

$1$

Record the entry to close the income summary account assuming the partners

did not agree on a plan, and therefore share income equally.

Note: Enter debils before credits.