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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
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 $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August 31 $ 5,900 2,200 119,800 Gross Pay for September $1,400 3,500 9,400 a. b. C. 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. Employer Payroll Taxes General Journal Assuming situation a, calculate the employer's payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount $ 0.00 Employer Payroll Taxes General Journal > 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 $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee Gross Pay for September Gross Pay through August 31 $ 5,900 2,200 119,800 a. b. $1,400 3,500 9,400 C. 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. Employer Payroll Taxes General Journal Assuming situation a, 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
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