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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 $128.400 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. Gross Pay Gross Pay through August 31 September a. $ 6,500 $ 1,990 b. 3,000 3,190 124,100 10,000 for Assuming situation (6). prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee's federal Income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to General be Journal The employee's federal income taxes withheld by the employer are $80 for this pay period. Compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Tax Tax Rate Amount Subject to Tax Federal income $ 80.00 FICA-Social S Security 1,900.00 6.20% 117.80 FICA-Medicare 1,900.00 1.45% 27.55 Total taxes withheld $ 225.35 tax Taxes to be Withheld From Gross 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 $128.400 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. Gross Pay Gross Pay through for August 31 September $ 6,500 $ 1,900 b. 3,000 3,100 124,100 10,000 suming situation (a). prepare the employer's September 30 journal entries to record salary expense and its related yroll liabilities for this employee. The employee's federal Income taxes withheld by the employer are $80 for this pay riod. Complete this question by entering your answers in the tabs below. Taxes to General be Journal The employee's federal income taxes withheld by the employer are $80 for this pay period. Prepare he employer's September 30 journal entries to record salary expense and its related payroll iabilities for this employee. (Round your answers to 2 decimal places.) Show less View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Sep 30 Salaries expense 1,900.00 FICA-Social security taxes payable FICA-Medicare taxes payable Employee federal income taxes payable Salaries payable Taxes to be Withheld From Gross Pay General Journal
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