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

State unemployment taxes payable

Ticket revenue

Unearned services revenue

Unearned ticket revenue

Vacation benefits expense

Vacation benefits payable

Warranty expense

Required information [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. Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities f this employee. The employee's federal income taxes withheld by the employer are $60 for this pay period. Complete this question by entering your answers in the tabs below. The employee's federal income taxes withheld by the employer are $60 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Assuming situation (a), prepare the employer's September 30 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 $60 for this pay period. (Round your answers to 2 decimal places.) Journal entry worksheet Prepare the employer's September 30 journal entry to record accrued salary expense and its related payroli liabilities for this employ. Note: Enter debits before credits