information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) BMX Company has one employee, FICA Social Security taxes are 6.2% of the first $137700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay For BMX, Its FUTA taxes are 06% and SUTA taxes are 5.4% of the first $7000 pald to its employee 3. b. c. Gross Pay through August 31 $ 6.200 2,200 133,100 Grass Pay for September $ 1,600 2,300 9,700 Exercise 9-7 (Algo) Computing payroll taxes LO P2, P3 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 (a (Round your answers to 2 decimal places.) September Eaming Subfecuto Tox Tax Rate Tax Amb FICA Social Security Prey 2 3 Next Required information SUDIOCO Tax FICA Social Security FICA Medicare FUTA SUTA b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA Social Security FICA-Medicare FUTA SUTA Prey 1 2 3 of 3 Nex Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137700 paid to its employee, and FICA Medicare taxes are 145% 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 3. b. C. Gross Pay through August 31 $ 6,200 2,200 133,100 Gross Pay for September $ 1,600 2,300 9,700 Exercise 9-8 (Algo) Payroll-related journal entries LO P2 Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll abilities for this employee The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From General Gross Pay Journal The employee's federal income taxes withheld by the employer are $80 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.) Taxes to be Withheld From Gross Pay (Employee Paid Taxes) September Enmings Tax Rato Tax Amount Subject to Tax Federal income tax $ 80,00 to be withheld From Gross Pay General Journal > FICA-Medicare FICA-Social Security FUTA SUTA Journal entry worksheet 1 Prepare the employer's September 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee. w Note: Enter debits before credits General Journal Debit Credit Date September 30 Record entry Clear entry View general journal Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137700 paid to its employee, and FICA Medicare taxes are 145% 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 a. b. c. Gross Pay through August 31 $ 6,200 2,200 133, 100 Gross Pay for September $1,600 2,300 9,700 Exercise 9.9 (Algo) Payroll-related journal entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities Payroll Taxes Expense General Journal Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount (Payroll Taxes Expense General Journal > FICA--Medicare FICA-Social Security FUTA SUTA
