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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
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. a. b. Gross Pay through August $ 5,300 19,000 113,000 Gross Pay for September $2,600 2,900 8,800 Exercise 11-7 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.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount View transaction list Journal entry worksheet
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