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THIS IS ONE PROBLEM, I HAVE SOLVED AS MUCH AS I COULD BUT I CANT FIGURE OUT THE REST PLS HELP the one i need
THIS IS ONE PROBLEM, I HAVE SOLVED AS MUCH AS I COULD BUT I CANT FIGURE OUT THE REST PLS HELP the one i need help solving the "first picture" i don't know what i am missing and the last two picture payroll taxes expense and general journal.
BMX Company has one employee. FICA Soclal Securlty taxes are 6.2% of the first $137,700 pald 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 pald to its employee. mpute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of th iarate situations (d),(b), and (c). (Round your answers to 2 decimal places.) Answer is not complete. The employee's federal income taxes withheld by the employer are $80 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.)Step by Step Solution
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