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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 $5,400 Gross Pay for September $2,400 3,000 8,900 b. 2,700 121,000 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. Leave no cells blank.) Answer is not complete September Tax Amount Earnings Subject 2,400.00 2,400.00 3,000.00 600.00 ax Tax Rate FICA Medicare FUTA SUTA 6.20% 1.45% 0.60% 2.90% 148.80 34.80 18.00 17.40 September Earnings Subject Tax Amount ax Tax Rate 6.20% 1.45% 0.60% 2.90% 2,100.00 130.20 2,100.000 FICA Medicare FUTA SUTA 30.45 0.00 0.00 September Earnings Subject Tax Amount ax Tax Rate FICA Medicare FUTA SUTA 6.20% 1.45% 0.60% 2.90% Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below Employee Paid General ournal Taxes Assuming situation a, 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.) No Date General Journal Debit Credit Sep 30 Salaries expense 2,400.00 FICA-Medicare taxes payable FICA Social security taxes payable Employee fed. inc. taxes payable Salaries payable 34.80 148.80 69.60 203.00 Employee Paid Taxes General Journal
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