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(The following information applies to the questions displayed below. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid
(The following information applies to the questions displayed below. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, ts FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through Gross Pay for August 31 September 5,100 $ 2,200 2,300 2,400 122,700 8,600 $ Exercise 9-6 Payroll-related journal entries LO P2 Assuming situation (a), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities or this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be General Withheld From Journal Gross Pav The employee's federal income taxes withheld by the employer are $80 for this pay period. Compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Tax Rate Subject to Tax Tax Amount Federal income tax $ 80.00 (The following information applies to the questions displayed below. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, ts FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through Gross Pay for August 31 September 5,100 $ 2,200 2,300 2,400 122,700 8,600 $ Exercise 9-6 Payroll-related journal entries LO P2 Assuming situation (a), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities or this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be General Withheld From Journal Gross Pav The employee's federal income taxes withheld by the employer are $80 for this pay period. Compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Tax Rate Subject to Tax Tax Amount Federal income tax $ 80.00
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