Question 1:

BMX Company has one employee. FICA Social Security taxes are 6.20% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.60% and SUTA taxes are 2.90% of the first $7,000 paid to its employee.

Gross Pay through AugustGross Pay for Septembera.$6,500$1,200Septembera.$6,500$1,200

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 $186.00 for this pay period.(Round your answers to 2 decimal places.)

Question 2:

Listed below are a few transactions and events of Maxum Company.

1.Employees earn vacation pay at a rate of one day per month. During December, 36 employees qualify for one vacation day each. Their average daily wage is $120 per employee.

2.During December, Maxum Company sold 4,400 units of a product that carries a 60-day warranty. December sales for this product total $126,000. The company expects 7% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $17

any necessary adjusting entries at December 31, 2015, for Maxum Company's year-end financial statements for each of the above separate transactions and events. necessary adjusting entries at December 31, 2015, for Maxum Company's year-end financial statements for each of the above separate transactions and events. necessary adjusting entries at December 31, 2015, for Maxum Company's year-end financial statements for each of the above separate transactions and events. necessary adjusting entries at December 31, 2015, for Maxum Company's year-end financial statements for each of the above separate transactions and events.

Question 3:

Paloma Co. Stars has four employees. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are .6% and SUTA taxes are 6.20%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees.

Current WeekNameGross Pay

through Aug. 18Gross PayIncome Tax WithholdingDahlia$115,900$2,900$412Trey116,55045072Kiesha8,90063055Chee2,85058044

In addition to gross pay, the company must pay one-half of the $96 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund.

Required:Compute the following for the week ended August 25.(Round your intermediate calculations and final answers to 2 decimal places.):

value: 5.66 polnts BMX Company has one employee. FICA Social Security taxes are 6.20% of the rst $111000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.60% and SUTA taxes are 2.90% of the rst $1000 paid to its employee. Gross Pay-through August Gross Pay for September a. $6,500 $ 1,200 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 $186.00 for this pay period. (Round your answers to 2 decimal places.) $ wasm WEW transaction "51'. Journal entry worksheet Prepare the employer's September 30 journal entry to record the accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits. Record entry Clear entry View general journal value: 6.66 polnts Listed below are a few transactions and events of Maxum Company. 1. Employees earn vacation pay at a rate of one day per month. During December, 36 for one vacation day each. Their average daily wage is $120 per employee. employees qualify 2. During December, Maxum Company sold 4,400 units of a product that carries a 60day warranty. December sales for this product total $126,000. The company expects 7% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $17. Prepare any necessary adjusting entries at December 31, 2015, for Maxum Company's yearend nancial statements for each of the above separate transactions and events. We!" tran saction llSt Journal entry worksheet