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Requlred Informetlon Use the following information for the Exercises below The following information applies to the questions displayed below. BMX Company has one employee. FICA
Requlred Informetlon 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 $ 6,288 Gross Pay for $1,6e0 3,888 9, 7e0 19,9e8 113,988 Exerclse 9-6 Payroll-related Journal entrles LO P2 Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its rela payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $80 for pay period. (Round your answers to 2 declmal places.) Taxes to be Withheld From Gross Pay ( d Taxes) r Earnings t to Tax Tax Rate Tax Amount Federal income tax 80.00 View transaction list Journal entry worksheet Prepare the employer's September 30 journal entry to record the accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits Date General Journal Debit Credit Sep 30
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