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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 $132,900 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. Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September unde ach of three separate situations (a), (b), and (c). Jote: Round your answers to 2 decimal places. \begin{tabular}{|l|r|c|c|} \hline c) & \multicolumn{1}{|l|}{ September Earnings Subject to Tax } & Tax Rate & Tax Amount \\ \hline FICA-Social Security & $5,600.00 & 6.20% & $347.20 \\ \hline FICAMedicare & 9,100.00 & 1.45% & 131.95 \\ \hline FUTA & 0 & & \\ \hline SUTA & 0 & & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. The employee's federal income taxes withheld by the employer are $90 for this pay period. Compute the taxes to be withheld from gross pay for this employee. Note: Round your answers to 2 decimal places. Complete this question by entering your answers in the tabs below. The employee's federal income taxes withheld by the employer are $90 for this pay period. Prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for this employee. Note: Round your answers to 2 decimal places. Show less A 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
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