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Need help with filling in the blanks. Thanks BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid to
Need help with filling in the blanks. Thanks
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 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 2.9% of the first $7,000 paid to its employee. Gross Pay through August 6,400 18,200 112,200 Gross Pay for September $ 800 2,100 8,000 a. b. C. Exercise 9-7 Payroll-related journal entries LO P3 Assuming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) X Answer is not complete. September earnings subject to tax Employer Payroll taxes Tax Amount Tax Rate FICA-Social 6.20%$ 800.00 49.60 Security 1.45% 0.60% 2.90% 800.00 FICA-Medicare 11.60 FUTA SUTA 61.20 Total Payroll Taxes Expense Answer is not complete. General Journal No Date Debit Credit 61.20X Sep 30 Payroll taxes expense FICA-Social security taxes payable 49.60 11.60 spayable Federal unemployment taxes payable State unemployment taxes payable FICA-Medicare
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