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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] BMX Company has one employee.
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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. xercise 9-7 (Algo) Computing payroll taxes LO P2, P3 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three eparate situations (a), (b), and (c). lote: Round your answers to 2 decimal places. Journal entry worksheet Record payment of the note at maturity, assuming no reversing entries were made on January 1. Note: Enter debits before credits. Exercise 9-5 (Algo) Interest-bearing notes payable with year-end adjustments LO P1 Keesha Company borrows $190,000 cash on December 1 of the current year by signing a 90-day, 10\%, $190,000 note. 1. On what date does this note mature? 2. \& 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31 , and (c) payment of the note at maturity. Note: Use 360 days a year. Do not round intermediate calculations
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