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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
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 $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. a. b. Gross Pay through August 311 $ 6,300 2,600 133,2001 Gross Pay for September $ 1,800 2,700 9,800 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. Note: Round your answers to 2 decimal places. Employer Payroll taxes September earnings subject to tax Tax Rate, Tax Amount Prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet < 1 Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits. Date September 30 General Journal Debit Credit View general journal Record entry Clear entry
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