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Prepare the employer's September 30 journal entry. Twy w Required information Use the following information for the Exercises below. (Algo) [The following information applies to
Prepare the employer's September 30 journal entry.
Twy w Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] 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. Grons Pay through August 31 $ 6,700 2,300 131,700 Grons Pay for September $ 400 2,400 8,300 b. Exercise 9-9 (Algo) Payroll-related journal entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entry 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 Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount $ 0.00 Payroll General Journal > Prev 7 Bar E Next > Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits. General Journal Debit Credit Date September 30 Record entry Clear entry View general Journal Step by Step Solution
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