FICAMedicare

FICASocial Security

FUTA

SUTA

Accounts payable

Accounts receivable

Bonus payable

Cash

Cost of goods sold

Deferred income tax liability

Employee benefits plan payable

Employee bonus expense

Employee federal income taxes payable

Employee life insurance payable

Employee medical insurance payable

Employee union dues payable

Estimated warranty liability

Federal unemployment taxes payable

FICAMedicare taxes payable

FICASocial security taxes payable

Income taxes expense

Income taxes payable

Interest expense

Interest payable

Interest receivable

Interest revenue

Merchandise inventory

Notes payable

Notes receivable

Parts inventory

Payroll taxes expense

Salaries expense

Salaries payable

Sales

Sales discounts

Sales returns and allowances

Sales taxes payable

Services revenue

[The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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. ssuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its elated liabilities. Complete this question by entering your answers in the tabs below. Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilies. (Round your answers to 2 decimal places.) Journal entry worksheet Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits