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BMX Company has one employee. FICA Social Security taxes are 6 . 2 % of the first $ 1 3 7 , 7 0 0
BMX Company has one employee. FICA Social Security taxes are of the first $ paid to its employee, and FICA
Medicare taxes are of gross pay. For BMX its FUTA taxes are and SUTA taxes are of the first $ paid
to its employee.
Assuming situation a prepare the employer's September journal entry to record salary expense and its related payroll liabilities for
this employee. The employee's federal income taxes withheld by the employer are $ for this pay period.
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