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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 $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. Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Answer is not complete. Complete this question by entering your answers in the tabs below. Assuming situation (a), prepare the employer's September 30 journal entry 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. Note: Round your answers to 2 decimal places. Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its elated liabilities. Answer is not complete. Complete this question by entering your answers in the tabs below. Assuming situation (a), compute the payroll taxes expense. Note: Round your answers to 2 decimal places. Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense related liabilities. Answer is not complete. Complete this question by entering your answers in the tabs below. 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
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