payroll-related journals
Required information Use the following information for the Exercises below. [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 a. Groes Day through August 31 $ 6,400 2.000 122.100 Gross Pay for September $ 800 2,100 8.000 C. Required information compute BMX S amounts for each or nese Tour taxes as applied to the employees gross earnings for September under each or three separate situations (a), (b), and (d. (Round your answers to 2 decimal places.) a) Tax Rate Tax Amount September Earnings Subject to Tax $ 800.00 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 c) Tax Rate Tax Amount September Earnings Subject to Tax Tax FICA Social Security FICA-Medicare FUTA SUTA Exercise 11-6 Payroll-related journal entries LO P2 Assuming situation (6), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilitie 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. Taxes to be General Withheld From Gross Pay Journal The employee's federal income taxes withheld by the employer are $80 for this pay period. Compute the taxes to be withhold 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 Tax Rate Tax Amount Subject to Tax Federal income tax 80.00 The to be with From Gross Pay General Journal > LUPOGLE SUE W CEy yerWEER LOS REV. Taxes to be General Withheld From Journal Gross Pay The employee's federal income taxes withheld by the employer are $80 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 1 Exercise 11-7 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 Complete this question by entering your answers in the tabs below. Payroll Taxes General Expense Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) September earnings subject to tax Employer Payroll taxes Tax Rate Tax Amount $ 0.00 Payrol Toxes Expense General Joumal Prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related Mobilities. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet
