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Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below,] of 3 BMX Company has one
Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below,] of 3 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 06% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. 800 2. 100 8, 000 18, 200 112, 200 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.) to tax FUTA 800.00 6 20% 49.60 11.60 1 45% 61.20 Journal entry worksheet erences
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