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Requirea information (The following information applies to the questions displayed below. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first
"Requirea information (The following information applies to the questions displayed below. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 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 2.9% of the first $7,000 paid to its employee. Gross Pay through August $ 5,400 19,100 113, 100 Gross Pay for September $2,400 3,000 8,900 b. Assuming situation a, 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 $90 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax S 90.00 Journal entry worksheet
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