! Required information Use the following information for the Exercises below. [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 Gross Pay for August 31 b. $6,500 2,200 122,500 September 3700 2,300 8,400 Exercise 9-5 Computing payroll taxes LO P2, P3 Compute BMX's amounts for each of these four taxes as applied to the employee's grass earnings for September under each or three separate situations (el. () and (m (Round your answers to 2 decimal proces.) a) September Earnings Subject to Tax Tax Tax Rate Tax Amount FICA-Social Security Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of the separate situations (a), (b), and (a. (Round your answers to 2 decimal places.) a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA b) September Earnings Subject to Tax Tax Rate Tax Amount FICA Social Security FICA-Medicare FUTA SUTA c) Tax September Earings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA CO Exercise 9-6 Payroll-related journal entries LO P2 Assuming situation (a), prepare the employer's September 30 journal entries to record salary expense and its related payroll ab for this employee. The employee's federal income taxes withheld by the employer are $70 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From General Gross Pay Journal The employee's federal income taxes withheld by the employer are $70 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 Subject to Tax Tax Rate Tax Amount Federal income tax s 70.00 Theo With From Gay General Journal > entries to record salary expense and its related payroll liabilities for this employee. (Round your answers to 2 dech View transaction list Journal entry worksheet Exercise 9-7 Payroll-related journal entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expe related liabilities. Complete this question by entering your answers in the tabs below. Payroll Taxes General Expense Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount Payroll taxe General Journal > your answers to 2 decimal places.) View transaction list Journal entry worksheet
