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 $ 5,200 2,350 122,800 Gross Pay for September $2,400 2,450 8,700 a. b. C. Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Complete this question by entering your answers in the tabs below. Employee General Paid Journal Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are $90 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Tax Earnings Tax Rate Amount Subject to Tax Federal income $ 90.00 tax Employee Paid Taxes General Journal > 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 $ 5,200 2,350 122,800 Gross Pay for September $2,400 2,450 8,700 a. b. C. Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Complete this question by entering your answers in the tabs below. Employee General Paid Journal Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. (Round your answers to 2 decimal places.) Show less View transaction list Journal entry worksheet Prepare the employer's September 30 journal entry to record the accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits. General Journal Debit Credit Date Sep 30 Record entry View general journal Clear entry 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 a. $ 5,200 b. b 2,350 C. 122,800 Gross Pay for September $2,400 2,450 8,700 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places. Leave no cells blank.) Tax Tax Rate Amount Earnings Subject to Tax $ 2,400.00 2,400.00 FICA-Social - Security FICA-Medicare FUTA SUTA b) 6.20% $ 148.80 1.45% 34.80 0.60% 5.40% Tax September Earnings Subject to Tax Tax Rate Tax Amount 6.20% FICA-Social Security FICA-Medicare FUTA 1.45% 0.60% 5.40% SUTA c) September Earnings Tax Tax Rate Tax Amount Subject to Tax 6.20% FICA-Social Security FICAMedicare FUTA SUTA 1.45% 0.60% 5.40%
