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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

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.
Exercise 9-9(Algo) Payroll-related journal entries LO P3
Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its
related liabilities.
Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its
related liabilities.
Complete this question by entering your answers in the tabs below.
Payroll Taxes
Expense
General
Journal
Assuming situation (a), compute the payroll taxes expense.
Note: Round your answers to 2 decimal places.
Journal entry worksheet
Record the employer's September 30 payroll taxes expense and its related
liabilities.
Note: Enter debits before credits.
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