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need help with this !! Required information [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes
need help with this !!
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 $132,900 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 salary expense and its related payroll liabilities for is 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. The employee's federal income taxes withheid by the employer are $90 for this pay period. Compute the taxes to be withheld from gross pay for this employee. Note: Round your answers to 2 decimal places. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $132,900 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 salary expense and its related payroll liabilities fo is 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. The employee's federal income taxes withheld by the employer are $90 for this pay period. Prepare the employer's September 30 journal entry to record salary expense and its related payroll llablitities for this employee. Note: 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 payroll llabilities for this employee. Note: Enter debits before credits Step by Step Solution
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