Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help solve 1. 2. thank you Required information Use the following information for the Exercises below. The following information applies to the questions displayed

please help solve
image text in transcribed
1.
image text in transcribed
2.
image text in transcribed
thank you
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 06% and SUTA taxes are 5.4% of the first 57.000 paid to its employee GEO Pay through August 31 $ 6, 600 2,100 122,300 Grons Pay for September $ 500 2. 200 B. 200 c. Assuming situation (a), prepare the employer's September 30 journal entries to record the employers 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 earings Employer Payroll taxes Tax Rate Tax Amount subject to tax $ 0.00 PE General Journal > Complete this question by entering your answers in the tabs below. Payroll Taxes General Expense 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting And Analysis In Multinational Enterprises

Authors: H P Holzer

1st Edition

3110100819, 978-3110100815

More Books

Students also viewed these Accounting questions