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please help woth the red areas i got incorrect BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid
please help woth the red areas i got incorrect
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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. uming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and ted liabilities. Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and related liabilities. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) Step by Step Solution
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