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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

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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 $118,500 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 2.9% of the first $7,000 paid to its employee Gross Pay through August $5,300 Gross Pay for September $ 2,600 2,900 8,800 19,000 113,000 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 expense and its elated liabilities. (Round your answers to 2 decimal places.) Answer is complete and correct. September earnings subject to tax Employer Payroll taxes FICA- Social Security FICA-Medicare FUTA SUTA Tax Rate Tax Amount 2,600.00 2,600.00 1,700.00 1,700.00 Total Payroll Taxes ExpenseS 6.20% 1.45% 0.60% 2.90% 161.20 37.70 10.20 49.30 258.40 Gross Pay for September $ 2,600 Gross Pay through August $5,300 19,000 113,000 2,900 8,800 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 expense and its related liabilities. (Round your answers to 2 decimal places.) Answer is complete and correct. September earnings subject to tax Employer Payroll taxes FICA- Social Security FICA-Medicare FUTA SUTA Tax Rate Tax Amount 2,600.00 2,600.00 1,700.00 1,700.00 Total Payroll Taxes Expense 6.20% 1.45% 0.60% 2.90% 161.20 37.70 10.20 49.30 258.40 Answer is not complete 0 Date General Journal Debit Credit Sep 30 Salaries expense FICA-Social sec. taxes payable FICA-Medicare taxes payable Employee Salaries pavable 2,600.00 fed. inc. taxes payable

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