Required 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 $128,400 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 a. b. Gross Pay through August 31 $ 5,200 2,350 122,800 Gross Pay for September $2,400 2,450 8,700 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.) Answer is not complete. a) Tax Rate Tax Amount Tax September Earnings Subject to Tax $ 2,400.00 6.20% $ 148.80 FICA-Social Security FICA-Medicare 34.80 2,400.00 1.45% 0.60% 5.40% FUTA SUTA b) 6 6 Next > Required information Tax Tax Rate Amount Earnings Subject to Tax 2,400.00 $ FICA-Social Security FICA-Medicare 6.20% $ 148.80 2,400.00 1.45% 34.80 FUTA 0.60% SUTA 5.40% b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICASocial Security FICAMedicare FUTA SUTA September Earnings Subject to Tax Tax Rate Tax Amount Tax FICA-Social Security FICAMedicare 0 FUTA SUTA Complete this question by entering your answers in the tabs below. Taxes to be Withheld From General Journal Gross Pay The employee's federal income taxes withheld by the employer are $90 for this pay period. Prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Prepare the employer's September 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30 90.00 Saved He FICA Medicare taxes are 1.45% of gross pay. For BMX, ITS PUTA taxes are 1.6% and SUTA taxes are 5.4% of the Trst $4,000 paid to its employee. Gross Pay through August 31 $ 5,200 2,350 122,800 Gross Pay for September $2,400 2,450 8,700 b. Assuming situation (a), prepare the employer's September 30 journal entries 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 General Expense Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings Tax Rate Tax Amount subject to tax $ 0.00 Required information Payroll Taxes Expense General 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
