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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 through August 31 $ 5,100 2,300 122,700 a. b. Gross Pay for September $2,200 2,400 8,600 Assuming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Employer Payroll Taxes General Journal Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Employer Payroll Taxes General Journal Assuming situation a, calculate the employer's payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes Tax Amount EA FICASocial Security FICAMedicare FUTA September earnings subject to tax Tax Rate 2,200.00 6.20% 2,200.00 1.45% 2,200.00 0.60% 2,200.00 2.90% Total Payroll Taxes Expense 136.40 31.90 13.20 63.80 245.30 SUTA $ > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Employer Payroll Taxes General Journal .................................................................................... Assuming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) No Date General Journal Debit Credit 1 Sep 30 245.30 136.40 Payroll taxes expense FICASocial security taxes payable FICA-Medicare taxes payable Federal unemployment taxes payable State unemployment taxes payable 31.90 13.20 x 63.80 X
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