Part 1

Compute BMXs amounts for each of these four taxes as applied to the employees gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)

Part 2

Assuming situation (a), prepare the employers September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employees federal income taxes withheld by the employer are $90 for this pay period.

Part 3

Assuming situation (a), prepare the employers September 30 journal entries to record the employers payroll taxes expense and its related liabilities.

Part 2

Taxes to be Withheld From Gross Pay

Federal Income Tax:

• FICAMedicare
• FICASocial Security
• FUTA
• SUTA

General Journal:

• Accounts payable
• Bonus payable
• Cost of goods sold
• Deferred income tax liability
• Earned services revenue
• Earned ticket revenue
• 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
• Merchandise inventory
• Notes payable
• Payroll taxes expense
• Repair parts inventory
• Salaries expense
• Salaries payable
• Sales
• Sales taxes payable
• State unemployment taxes payable
• Unearned services revenue
• Unearned ticket revenue
• Vacation benefits expense
• Vacation benefits payable
• Warranty expense

Part 3

Payroll Taxes Expense

Employer Payroll Taxes:

• FICAMedicare
• FICASocial Security
• FUTA
• SUTA

General Journal

General Journal:

• Accounts payable
• Accrued payroll payable
• Bonus payable
• Cash
• Cost of goods sold
• Deferred income tax liability
• Earned services revenue
• Earned ticket revenue
• 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
• Merchandise inventory
• Notes payable
• Payroll taxes expense
• Repair parts inventory
• Salaries expense
• Salaries payable
• Sales
• Sales salaries expense
• Sales taxes payable
• State unemployment taxes payable
• Unearned services revenue
• Unearned ticket revenue
• Vacation benefits expense
• Vacation benefits payable
• Wages expense
• 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 $128,400 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. Gross Pay through Gross Pay for August 31 September 5,200 $ 2,400 2,350 2,450 122,800 8,700 $ b. 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 (c). (Round your answers to 2 decimal places.) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA ! 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 $128.400 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. Gross Pay through Gross Pay for August 31 September $2,400 2,450 9,700 b. $ 5,200 2,350 122,800 Assuming situation (a), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this 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. Taxes to be General Withheld From Gross Pay Journal The employee's federal income taxes withheld by the employer are $90 for this pay period. 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 Earnings Subject to Tax Tax Rate Tax Amount Federal income tax $ 90.00 Taxes to be Withheld From Gross Pay General Journal > ! 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 $128.400 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. Gross Pay through Gross Pay for August 31 $2,400 2,450 122,800 9,700 September $ 5,200 2,350 b. Assuming situation (), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this 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. Taxes to be General Withheld From Journal Gross Pay The employee's federal income taxes withheld by the employer are $90 for this pay period. Prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. (Round your answers to 2 decimal places.) View transaction list 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. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30 Record entry Clear entry View general Journal 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 $128.400 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. Gross Pay through August 31 $ 5,200 2,350 122,800 Gross Pay for September $2,400 2,450 8,700 b. Assuming situation (4). prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal 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.) View transaction list Journal entry worksheet 1 Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30 Record entry Clear entry View general journal